BREAKING: US annual interest expense is up to a record 18.5% of federal government revenue. This is officially above the previous record of 18.4% set in 1991. This percentage has more than QUADRUPLED over the last 4 years as interest expenditures on public debt skyrocketed. US annual interest expense now stands at a record $1.25 trillion, more than 4x the level seen in 1991. Meanwhile, the 30Y Treasury yield is trading at ~5.21%, just 13 basis points from its highest level since 2007. By comparison, the 30-year yield was oscillating at ~8.00% in 1991, underscoring how much the US debt burden has grown since then. The US debt crisis is in uncharted territory.(The Kobeissi Letter)