Treasury Department Says US Paying $1,157,762,000,000 in National Debt Interest in One Year, Elon Musk Warns Government ‘Whistling Past the Graveyard’

The US Treasury Department intends to spend $1.157762 trillion in national debt interest in fiscal year 2024.

Treasury bonds, bills, and other securities are issued by the government to borrow money at interest.


By August, interest payments had reached $1.05 trillion, and the remaining payments will be made when the fiscal year ends.

The Treasury Department predicts that debt interest will be the third-largest cost this fiscal year, behind Medicare and Medicaid at $1.727 trillion and Social Security at $1.520 trillion.

Elon Musk warns about the mounting deficit and debt, which currently total $35.3276 trillion.

Musk remarked in an All-In Summit 2024 panel interview that the administration is portraying confidence in a catastrophic situation.

It seems like everyone is whistling past the cemetery on this one... The Pentagon budget is huge. DoD and intelligence spend a trillion dollars annually. National debt interest recently topped the Defense Department budget. Interest alone costs over a trillion dollars a year and growing.

We're adding a trillion dollars to our debt, which our children and grandchildren will pay every three months. Soon, every two months, then monthly.

We can just pay interest then.”

Since January 1, the national debt has grown by $1.337 trillion.

On average, the debt has grown by $445.67 billion every three months.

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