(Mike Maharrey, Money Metals News Service) Interest on the national debt set a record last year, costing $1.2 trillion. That was up 7.3 percent over 2024.
Through the first half of the current fiscal year, the federal government spent more on interest on the debt than it did on national defense ($558 billion) or Medicare ($590 billion). The only higher spending category is Social Security ($957 billion).
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