Interest payments on the US Governments Debt (The Federal Government Debt)

The US Government spends more that it earns in income tax revenue, as the chart below shows.

Courtesy of Peter G. Peterson Foundation

In 2022, the federal government spent $476 billion on net interest costs on the national debt. That total, which grew by 35 percent from $352 billion in 2021, was the largest amount ever spent on interest in the budget, and equalled nearly 2 percent of gross domestic product (GDP). Interest costs are on track to become the largest category of spending in the federal budget. See the graph below on the project trends of US Government interest payments… a wise man once told me….”They are off the chart

Courtesy of Peter G. Peterson Foundation

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