In its August budget update, the CBO reported that net interest on public debt totaled $963 billion between October 2025 (when the fiscal year begins) and July 2026. That equates to $96.3 billion a month, or approximately $3.18 billion a day over the 303 days in between.
The latest budget update is further evidence for debt hawks who suggest policymakers are heading in the wrong direction when it comes to fiscal responsibility: Deficits totaled $1.8 trillion in the first 10 months of this fiscal year, $169 billion more than the deficit recorded during the same period last fiscal year.
With that information in mind, the CBO updated its deficit projection for the total fiscal year to $2.1 trillion, $200 billion more than the deficit projected in February of this year.
The concern for debt hawks is that the U.S. debt-to-GDP ratio is becoming unbalanced (currently at 122% per the St Louis Fed), and lenders at some stage will attach a higher risk premium to lending, pushing up interest as a result.
Fortune
Interest on national debt now costs Treasury $3 billion a...
The CBO reported that net interest on public debt totaled $963 billion between October 2025 (when the fiscal year begins) and July 2026.
good thing Trump and the 'conservatives' in Congress are getting things under control right?
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Crnr2Crnr ·
