It took 200 years for national debt to hit $1 trillion. Annual interest alone now exceeds that—a ‘crushing legacy we must reverse,’ says budget chair

The U.S.’s eye-watering debt burden poses an “existential threat to the future of our nation,” the chairman of the House Budget Committee has warned, as the country’s borrowing figure tipped over $39 trillion.

Texan Republican Jodey Arrington highlighted last week that it had taken the U.S. nearly two centuries to build a debt pile worth $1 trillion, whereas a mere matter of decades later, the Treasury is forking out that figure every year merely in service payments on the debt.

For the fiscal year 2025...