U.S. Debt Soars Beyond $1 Trillion in Annual Interest for the First Time; Debt to Hit $50 Trillion by 2033
Based on data from the Congressional Budget Office, a Bank of America note predicts that the U.S. government will surpass $50 trillion in debt by 2033, reported Business Insider. Simultaneously, according to the Treasury’s calculations, the total interest has eclipsed $1 trillion this year, precisely reaching $1.027 trillion, marking the first instance of crossing the trillion-dollar threshold in a single year.