According to the Congressional Budget Office's August budget update report, the U.S. federal deficit for fiscal 2026 was projected at $2.1 trillion, up from $1.9 trillion estimated in February. Through July 2026, net interest payments reached $96.3 billion monthly, or approximately $3.18 billion daily—equivalent to $37,000 per second. The surge in interest costs stems from higher debt levels combined with rising long-term interest rates, which increased net interest payments by $117 billion year-over-year, a 14% increase. Interest payments have now surpassed defense spending as the largest budget category.
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