U.S. net interest on the public debt reached $1.142 trillion in fiscal 2026

Net interest increased faster than total outlays

CBO reported an 11.1% year-on-year increase in net interest on the public debt. Total federal outlays grew 5.5%. From the displayed dollar figures, interest accounted for 15.44% of outlays in 2026 compared with 14.66% in 2025. Source 1

The amount reflects debt and interest-rate conditions

CBO attributes the fiscal 2026 increase to a larger stock of debt and higher long-term interest rates than the previous year. Its calculation is a fiscal-year spending flow. The same report gives a separate end-of-year measure of debt held by the public. Source 1

The label differs from net interest outlays in CBO projections

CBO explains that the Monthly Budget Review category covers net interest on the public debt. Its broader net interest outlays category includes government interest flows unrelated to Treasury securities issuance and typically has a lower total. Use the same category across years. Source 1

The November review uses the year-end Treasury statement

CBO says its November fiscal-year summary incorporates September Monthly Treasury Statement data and therefore differs from its earlier September review. The ratios in this story use the November vintage for both numerator and denominator. Source 2 Source 1

Sources

• Congressional Budget Office fiscal 2026 year-end budget review, Tables 1 and 3
• Congressional Budget Office November 2026 release and data timing