The Eye-Popping Interest Payment Spike On Our National Debt

January 18, 2024

Meanwhile, the net interest on our national debt is currently at $730.8 billion, dwarfing the sum for previous years. Interest payments on the United State’s national debt have risen sharply in recent years and remain on track to continue increasing. Net interest payments on the national debt hit a whopping $659 billion in fiscal year 2023, marking a massive 39% jump from 2022, when the government paid $475 billion in interest on the national debt. The comparison signifies that increased taxation suggested by Democrats isn’t a viable path towards erasing the national debt, especially as interest payments pile up. pic.twitter.com/Mh3SQ3zPzK — Rob Lockwood (@RobLockwood) January 16, 2024The debt interest payments continued to spike in October 2023, the first month of fiscal year 2024, when the government paid $76 billion on the national debt interest.