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Net interest as a share of receipts, fiscal year to date through August
Fiscal-year-to-date net interest divided by fiscal-year-to-date receipts, multiplied by 100. Only observations through August are compared: the same eleven months of each fiscal year.
Reading the evidence
Eleven months into fiscal 2026, net interest outlays were $1,017 billion against $4,845 billion of receipts: 21.0 cents of every dollar the government collected went to interest. At the same point in fiscal 2025 the figure was 19.9 percent; in 2024, 19.2 percent; in 2023, 15.9 percent; in 2019, 12.3 percent. The chart compares the same eleven-month window each year, from the Monthly Treasury Statement, so that partial fiscal years are not set against complete ones.