The Biden administration rang up a budget topping $1.8 trillion in fiscal 2024, up more than 8% from the previous year and the third highest on record.
Interest expense for the year totaled $1.16 trillion, the first time that figure has topped the trillion-dollar level.
Interest expense for the year totaled $1.16 trillion, the first time that figure has topped the trillion-dollar level. Net of interest earned on the government’s investments, the total was a record $882 billion, the third-largest outlay in the budget, outstripping all other items except Social Security and health care.
https://www.cnbc.com/2024/10/18/us-deficit-tops-1point8-trillion-in-2024-as-interest-on-debt-surpasses-trillion-dollar-mark.html
"are we winning yet, mommy?"