BREAKING: Interest costs on US public debt rose +$139 billion YoY in the first 11 months of FY2026, or +12%, to a record $1.27 trillion. This represents ~26% of total US government receipts. This also marks the 6th consecutive annual increase, totaling +$784 billion, or +162%. Interest expense on federal debt is now on track to surpass $1.30 trillion in a full fiscal year for the first time in history. In August alone, the US government spent $98 billion on interest, or $3.2 billion a day. The US government needs lower rates more than anyone.