The cost of servicing U.S. debt has surged to $3 billion daily, doubling since 2020 due to aggressive Fed rate hikes, with potential relief on the horizon.
If the Fed cuts interest rates by 1%-point, daily interest expenses could drop from $3 billion to $2.5 billion, easing the burden on U.S. debt.
Analysts believe that the U.S. budget deficits will worsen under either presidential candidate, signaling an unsustainable fiscal outlook beyond the election.
Trump's fiscal policies may lead to a primary deficit increase of $5.8 trillion over the next decade, compared to Harris's projected $1.2 trillion increase.
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