The US federal government currently spends roughly one‑third more than it collects in taxes, running annual deficits on the order of 30–40% of revenues. In the last few years, interest payments on the federal debt have surged and are now rivaling, and at times exceeding, defense spending as one of the largest line items in the budget, displacing defense from its long‑standing position as the dominant major expense since the Cold War era.

#funfacts