US interest on the national debt by year, FY2010 to FY2026
The US government's interest expense on its debt was $1.36 trillion in fiscal year 2026, according to U.S. Treasury Fiscal Data. In FY2010 it was $414.0 billion. That is 3.3x as much, or an average increase of about 7.7% a year over 16 years.
How Much Interest Does the US Pay, FY2010 to FY2026?
US interest on the national debt by year
Interest expense first passed $1 trillion in FY2024. Between FY2022 and FY2026 alone it went from $718.7 billion to $1.36 trillion, 1.9x in 4 years. The largest one-year jump was 28.4% in FY2024; the largest drop was 20.8% in FY2012.
| Fiscal year | Interest expense | Change | Total debt (Sep) | Interest ÷ debt |
|---|---|---|---|---|
| FY2026 | $1.36 trillion | +11.5% | $40.10 trillion | 3.39% |
| FY2025 | $1.22 trillion | +7.7% | $37.50 trillion | 3.25% |
| FY2024 | $1.13 trillion | +28.4% | $35.32 trillion | 3.21% |
| FY2023 | $882.6 billion | +22.8% | $33.17 trillion | 2.66% |
| FY2022 | $718.7 billion | +27.8% | $30.93 trillion | 2.32% |
| FY2021 | $562.4 billion | +7.6% | $28.43 trillion | 1.98% |
| FY2020 | $522.8 billion | -9.0% | $26.81 trillion | 1.95% |
| FY2019 | $574.6 billion | +9.9% | $22.62 trillion | 2.54% |
| FY2018 | $523.0 billion | +14.1% | $21.52 trillion | 2.43% |
| FY2017 | $458.5 billion | +6.0% | $20.24 trillion | 2.26% |
| FY2016 | $432.6 billion | +7.5% | $19.57 trillion | 2.21% |
| FY2015 | $402.4 billion | -6.6% | $18.15 trillion | 2.22% |
| FY2014 | $430.8 billion | +3.6% | $17.79 trillion | 2.42% |
| FY2013 | $415.7 billion | +15.5% | $16.74 trillion | 2.48% |
| FY2012 | $359.8 billion | -20.8% | $16.07 trillion | 2.24% |
| FY2011 | $454.4 billion | +9.8% | $14.79 trillion | 3.07% |
| FY2010 | $414.0 billion | - | $13.47 trillion | 3.07% |
Interest compared with the size of the debt
Total public debt outstanding was $13.47 trillion at the end of FY2010 and $40.10 trillion at the end of FY2026, 3.0x as much. Interest expense grew 3.3x over the same years. Dividing each year's interest by the debt at the end of that fiscal year gives a rough average rate: 3.07% in FY2010, a low of 1.95% in FY2020, and 3.39% in FY2026.
This ratio is only an approximation. The debt changes during the year, and the interest figure includes interest credited to government trust funds as well as interest paid to outside holders of Treasury securities. It is still a simple way to see that the cost of the debt depends both on how much is owed and on the interest rates of the securities behind it.
What this number includes
- Interest Expense on the Debt Outstanding is a gross figure: it includes interest on Treasury securities held by the public and interest on securities held by government accounts such as Social Security trust funds.
- Because of that, it is larger than the net interest figure often used in budget reports, which leaves out interest the government pays to itself.
- Amounts are nominal US dollars, not adjusted for inflation.
- US fiscal years run from October 1 to September 30; FY2026 ended on September 30, 2026.
- Debt at fiscal year-end is the last Debt to the Penny reading in September of each year in our weekly sample of that dataset.
Questions
How much interest did the US pay on its debt in FY2026?
$1.36 trillion in gross interest expense on the debt outstanding, according to U.S. Treasury Fiscal Data.
When did US interest on the debt pass $1 trillion?
In fiscal year 2024, when it reached $1.13 trillion.
How much has interest on the debt grown since FY2010?
From $414.0 billion to $1.36 trillion, 3.3x, or about 7.7% a year on average.
Is this the same as net interest in the federal budget?
No. This is gross interest, which also counts interest on debt held by government trust funds. Net interest leaves that out and is smaller.
How we made this
Source: U.S. Treasury, Fiscal Data: Interest Expense on the Debt Outstanding; Debt to the Penny. Not affiliated with or endorsed by the U.S. Treasury. · Data: interest through FY2026 (Sep 30, 2026); debt through 2026-10-22For information only. Not financial advice. Every figure on this page is computed by script from the same data as our Shorts and rounded for display.