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US annual interest costs on national debt reach $1.2 trillion

Axios

High borrowing costs and debt refinancing have pushed annual US interest costs to $1.2 trillion, exceeding defense spending as debt sits at 101% of GDP.

  • US annualized interest costs have reached $1.2 trillion
  • Interest costs now exceed defense spending
  • Publicly held debt is approximately 101% of GDP according to the CBO

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