Post by Global News on
FY2023 Spending on Debt Interest Explodes to Exceed Defense "With these new figures, total US debt stands at $33.6 trillion. The cost of servicing US debt rose to record heights—$879 billion, a $162 billion (23 percent) increase from FY2022 because of higher interest rates on the rising national debt. The cost of servicing the US debt is now larger than annual spending on appropriations for national defense." Article and Image Source: https://www.conference-board.org/research/ced-policy-backgrounders/FY2023-spending-on-debt-interest-exceeds-defense#:~:text=The%20cost%20of%20servicing%20US,on%20appropriations%20for%20national%20defense. Image by jcomp on Freepik Legal Disclaimer: INFYNIT is providing the content here for educational purposes only. All opinions are of the original author and not an opinion of INFYNIT or any of its affiliates.