Interest on the national debt is rapidly becoming the biggest single category of spending by the U.S. government. As of May 2024, the amount of money spent to pay interest owed to the federal government’s creditors surpasses the annual amount it spends on national defense.

The Daily Shot tweeted the grim milestone.

Defense spending represents the largest category of discretionary spending by the U.S. government appropriated by the U.S. Congress each year. Interest on the national debt represents mandatory spending. It now ranks third behind the annual spending to fund other mandatory spending programs like Social Security and Medicare.

Fueled by excessive spending, the growth of the national debt and the surging amount of interest that must be paid on it is crowding out other parts of the U.S.........

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