The federal debt is now over $26.5 trillion with an annual actual budget deficit of $3.4 trillion. Servicing the debt costs $385.8 billion annually according to the debt clock. The present Fed basic interest rate is 0.00% to 0.25%. {chart} It is generally known that the federal debt has recently been increasing rapidly due to efforts to compensate for the Coronavirus lockdowns and to deal with the financial crisis. The increase in debt will mean an increase in the cost of financing the debt. The figures can be seen on the US debt clock and are readily accessible. See the U.S. National Debt Clock: Real Time. It is ... (full story)