The federal government’s interest payments on public debt reached $529 billion in the first half of fiscal year 2026, nearly equaling the combined spending on defense ($461 billion) and education ($70 billion), according to the Congressional Budget Office (CBO) report published Wednesday.
This represents a $33 billion increase from the same period last year, driven by a larger debt load and higher long-term interest rates.
The federal deficit totaled $1.2 trillion for the period from October through March, with total outlays of $3.7 trillion, up 2% and revenues rising 10% to $2.5 trillion, partly buoyed by a sharp jump in customs duties following …Full story available on Benzinga.com
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