For the first time, the US government is spending more on net interest payments than on Medicare. Through the first seven months of fiscal 2026, net interest reached $628 billion, surpassing gross Medicare spending of $588 billion. The Congressional Budget Office projects full-year net interest will hit $1.039 trillion, a 190% increase since fiscal 2020. The Committee for a Responsible Federal Budget warns the US will borrow over $2 trillion this fiscal year, while the One Big Beautiful Bill Act adds $6.9 trillion to the debt over ten years. By 2047, interest is projected to surpass Social Security as the largest budget item.