The U.S. isn’t alone in racking up big debt — and big interest payments

The escalating debt levels and rising interest payments are troubling not just for the U.S. but for many countries worldwide. Treasury Secretary Scott Bessent is dealing with the financial strain this places on the government's budget. This widespread issue highlights the global economic challenges tied to high public debt, which can destabilize financial markets and hinder economic growth. As nations grapple with these mounting debts, the implications for global economic stability and policymaking are significant.