BREAKING: Interest Expense on U.S. Public Debt Rises 12% to a Record $1.36 Trillion in FY2026

Interest expense on U.S. public debt rose $144 billion year over year, or 12%, to a record $1.36 trillion in FY2026.
This marks the sixth consecutive annual increase, for a total rise of $839 billion, or 161%.
Total receipts rose just 3.2% year over year to $5.40 trillion, meaning interest on federal debt accounted for 25% of total U.S. government receipts.
Social Security, the largest government expense, rose $86 billion year over year, or 5.5%, to a record $1.67 trillion.
At this pace, interest costs would exceed Social Security as the largest government outlay by the end of 2028.