US Government Debt Spending Soars to $103 Billion for Two Months
- US Treasury releases monthly federal government budget data
- Interest costs climbing in wake of Fed interest-rate hikes
The US Treasury building in Washington, DC.
Photographer: Samuel Corum/BloombergThis article is for subscribers only.
The federal government’s debt interest costs surged in the first two months of the fiscal year, in a shift that’s likely to get increasing political attention.
The Treasury Department on Monday reported that interest paid on public debt amounted to $103 billion over the past two months. That marks an 87% jump over October and November last year.