US Paid More Interest in ’22 On Nat’l Debt Than ’23 Defense Budget

The U.S. paid $853 billion in interest for $31 Trillion in debt in 2022, which was more than the federal defense budget in 2023, according to a recent economic analysis.

  • The analysis was postered on the Twitter by Wall Street Silver and appears to be derived, at least in part, from data from the U.S. Bureau of Economic Analysis that is included in the post.
  • The analysis also found if the Federal Reserve keeps interest rates now higher levels the U.S. will be at $1.2 trillion to $1.5 trillion in interest paid on the debt.
  • The federal government collects about $4.9 trillion in taxes, the analysis also found.