The United States is now paying nearly $970 billion a year just to service the interest on its $38.8 trillion national debt—a figure that has nearly tripled since 2020 and already exceeds what the federal government spends on national defense or Medicaid, according to a February analysis by the Committee for a Responsible Federal Budget (CRFB).
For many Americans, the number barely registers. But budget experts warn it represents one of the most consequential—and least discussed—fiscal emergencies in the country’s history.
