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Why the U.S. Is Spending $870B on Interest Payments in 2024

The U.S. is projected to spend a historic $870 billion paying interest on the national debt this year. That’s even more than the defense budget. I’ll explain just how high these interest payments are expected to rise, how interest on debt fits into the national budget, and what it could mean for markets and regular taxpayers. 0:00 Interest on the U.S. national debt 0:41 Interest payments projected to rise 1:16 U.S. budget 1:56 Why this matters I’m Dion Rabouin, a WSJ reporter covering markets and the economy. I’ll be diving into all things finance, from the popular and well-known — like crypto and stocks — to the complex and intricate — like leveraged loans, derivatives and private equity. Subscribe to join me as I take a deep dive into what’s making money move and why it matters. #Interest #Debt #DionRabouin