Shocking stat of the day:

US net interest costs on public debt rose +$19 billion YoY in the first 2 months of the Fiscal Year 2026, to $179 billion.

This makes interest the 2nd-largest government outlay, only behind Social Security, at $268 billion.

By comparison, Medicare, Health, and Defense spending totaled $176 billion, $170 billion, and $165 billion, respectively, over the last 2 months.

During this period, interest expense as a % of tax revenue was 24.2%, near an all-time high.

This is nearly 2 TIMES above the average seen between 2013 and 2019.

Interest costs are out of control.