US Interest Payments on Public Debt Hit Record $1,052,000,000,000 in Fiscal 2026, Swallowing About a Fifth of Federal Revenue

The cost of carrying America’s national debt has climbed to a new record and now eats up about a fifth of everything the federal government collects. Interest on Treasury debt securities surged to $1.052 trillion in fiscal 2026, which ended on September 30th, says the US Treasury Department. The number represents an 8% increase from $970 billion in fiscal 2025. Meanwhile, total receipts grew just 3.2% over the same stretch to about $5.40 trillion, meaning interest costs equaled roughly 20% of federal revenue. Social Security, the largest line item in the budget, cost $1.67 trillion, up about $86 billion, or 5.5%, from the year before. Second is Medicare expense at $1.073 trillion. The interest bill also topped the $965 billion the government spent on national defense.

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