The federal government has paid north of $1 trillion in gross interest payments on its debt for fiscal year 2024 as the national debt continues to climb. The Treasury Department said in a recent statement that the U.S. paid about $1.049 trillion in gross interest on treasury debt securities in the current fiscal year. The figure is estimated to reach roughly $1.158 trillion in the 12-month period ending Sept. 30. By contrast, the Treasury said total outlays for net interest reached $843 billion in fiscal year 2024, topping other big ticket items like national defense, for which outlays have reached $798 billion so far. Outlays were still higher, however, for two other highlighted fun
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