Loading ...U.S. Government Financial Balance Sheet One Step Closer To Blowing Up
by SRSrocco on September 6, 2018
Let’s get started with the tremendous surge in the U.S. Government interest expense. Well, it seems as if things are really starting to get crazy at the U.S. Treasury when its interest expense in July jumped by a whopping 41% year-over-year. That’s correct. The U.S. Government paid $40.5 billion in interest expense this July versus $28.7 billion for the same month last year. That is one heck of an increase.
The interest expense the U.S. Government paid in Apil, May, and June was up 22%, 28%, and 6% respectively versus the same months in 2017. However, July was up 41% compared to July last year. Furthermore, total U.S. interest expense in 2017 was $458 billion while the amount paid this year is $455 billion and we still have two months remaining.
The U.S. Government paid $54 billion of interest expense in the last two months of the fiscal year last year. So, if we assume a 20% increase of that figure, the U.S. Treasury will have to fork out another $65 billion for August and September for a total of $520 billion in 2018.