Interest on U.S. debt refers to the cost of borrowing money by the U.S. government. When the government issues Treasury bonds, it promises to pay investors a certain amount of interest over the life of the bond. The total amount of interest paid on U.S. debt has grown significantly in recent decades, as the government has borrowed more money to finance its spending.
Interest on U.S. debt is important because it affects the overall cost of government borrowing. Higher interest rates mean that the government has to pay more to borrow money, which can lead to higher taxes or reduced spending. Interest on U.S. debt also has a significant impact on the economy as a whole. High levels of debt can lead to inflation and other economic problems.