Gross interest payments on US debt topped $1 trillion

The U.S. Treasury Department reports that gross interest payments on the national debt have surpassed $1 trillion in fiscal 2024, a 30% increase from the previous year and a first in history. This milestone highlights growing concerns over the national debt, now exceeding $35 trillion. The development coincides with heated debates in Washington over government funding, spending cuts, and stalled legislative efforts amid a looming government shutdown.