U.S. Debt Crisis Deepens: Annual Interest Payments Top $1 Trillion

The total annual interest costs on U.S. Federal debt have surpassed the $1.1 trillion mark in the second quarter of the year, with the government now paying a record $3 billion in interest per day on its debt. According to the economics outlet Kobeissi Letter on the microblogging platform X (formerly known as Twitter), the interest expense