Endgame: US Ends Fiscal 2024 Paying A Record $1.1 Trillion In Interest Expense

2024 was the year when the runaway US budget deficit was supposed to gradually normalize, and after two crisis years, the US was supposed to end its drunken sailor spending ways. And for a while there, it seemed touch and go, with the cumulative US deficit initially overtaking 2023 - forget about the batshit insane 2021 and 2022 when the deficit hit a mindboglilng 18% of GDP...

... before slowly easing back for a few months, only to sprint ahead of 2023 once more in August and close out fiscal 2024 by modestly reverting in September.