Interest Payments on America’s Public Debt Jump Above $1 Trillion Per Year: BI

A new projection shows that interest payments on U.S. public debt have climbed above $1 trillion per year, leading some economists to express concern.

The National Debt Clock in New York City on July 7, 2023.Samira Bouaou/The Epoch Times

A new analysis by Bloomberg Intelligence estimates that the annualized interest payments on America’s public debt have surpassed the $1 trillion mark, triggering concern about debt sustainability.

The latest data from the Commerce Department’s Bureau of Economic Analysis show that the annualized interest payments as of the end the third quarter of the 2023 fiscal year (which ended on Sept. 30) stood at an annualized $981.3 billion.