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U.S. Government Interest Payments Just Exceeded Belgium's Output

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Photographer: Andrew Harrer/Bloomberg

U.S. government interest payments surpassed total economic output from Belgium in the fiscal year ending Sept. 30, underscoring the growing burden of America’s debt load amid wider budget deficits and climbing borrowing costs.

The government shelled out $523 billion on interest in fiscal year 2018, the highest on record and 14 percent more than the prior 12-month period, according to data published by the Treasury Department Thursday.