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International Business Times UK
International Business Times UK
World
Niloy Chakrabarti

America Spends $24 Billion Weekly to Service Its $39.4 Trillion National Debt

US debt currently stands at around $39.4 trillion. [In pic: US Treasury Secretary Scott Bessent]

The US government's debt burden has reached another historic milestone, and the cost of carrying it is becoming almost as alarming as the debt itself.

According to the latest estimates from the Congressional Budget Office (CBO), the federal government is now spending $24 billion every week to pay interest on its national debt, which stood at over $39.4 trillion, making it one of the Administration's fastest-growing expenses.

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