US federal mandatory spending and interest costs now consume 98.4% of government receipts, the highest proportion since the 2020 pandemic peak, with net interest alone reaching a record 19.7% of revenue.
Macro & Markets ·
Mandatory federal spending and interest costs now consume 98.4% of total government receipts, the highest proportion since the 2020 pandemic peak of approximately 99.0%. Net interest alone has reached a record 19.7% of revenue, nearly tripling as a percentage of receipts, and these figures have increased by 28 percentage points since 2022, compared to under 90% during the 2008 financial crisis.