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moneymetals

Total U.S. Public Debt & Interest Expense Hit A New Record High

The total U.S. public debt hit a new record high of $21.145 trillion on the last day in May. AS the U.S. debt increased, so did the interest expense which jumped by more than $26 billion in the first seven months of the fiscal year. That's correct; the United States government forked out an additional $26 billion to service its debt (Oct-Apr) versus the same period last year.

While the U.S. debt reached a new high on May 31st, it took nearly two months to do it. Let me explain. During tax season, the total U.S. public debt actually declined from a peak of $21.135 trillion on April 10th to a low of $21.033 trillion on May 3rd. Since then, the U.S. debt has been steadily moving higher (including some daily fluctuations):

If you spend some time on the TreasuryDirect - Home site, you will see that the total public debt doesn’t go up in a straight line. There are days or weeks where the total debt declines. However, the overall trend is higher.


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(https://www.moneymetals.com/news/2018/06/05/us-debt-new-record-001510​)​

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