Interest payments surpass defense spending: $870B vs. $822B forecasted for 2024 federal budget.

• In fiscal year 2024, U.S. national debt interest has exceeded spending on the military.
• The federal government spent $412 billion on military programs at the Department of Defense during the first half of FY2024.
• However, the rapidly growing cost of servicing the national debt surpassed military spending.
• Interest expenses from the $34 trillion national debt totaled $440 billion in the first six months of FY2024, representing a 43% increase from the first half of FY2023¹².

This highlights the significant impact of interest payments on the nation’s financial landscape.