Rep. Thomas Massie (R-Ky.) said Wednesday that the growing burden of interest payments on the national debt is the direct result of policies he opposed in Congress, a stance that he says cost him his re-election bid.
The Cost Per American
“$4,000 per year per American. That’s how much interest we are paying on the debt to banks and foreign countries every year,” Massie said in a post on X.
“A family of four owes $16,000 per year for nothing but interest on the debt.”
Massie lost his Kentucky primary in May to President Donald Trump-backed challenger Ed Gallrein, a former Navy SEAL, after Trump campaigned against him for opposing his tax legislation and other party priorities.
$4,000 per year per American.
— Thomas Massie (@RepThomasMassie) August 19, 2026
That’s how much interest we are paying on the debt to banks & foreign countries every year.
A family of four owes $16,000 per year for nothing but interest on the debt!
I lost my re-election because I voted against the policies that caused this.
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Haley Warns Social Security Could Follow
Former UN Ambassador Nikki Haley separately warned that Social Security could go bankrupt within five years, affecting 75 million Americans, as the national debt crossed $40.05 trillion this week.
“You can’t blink away this growth in our debt,” Haley said, calling it “past a crisis situation.”
Debt Costs Are Already Showing Up in Markets
Interest payments on the debt have reached nearly $1.2 trillion this year, now the largest federal expense after Social Security and Medicare, as the 30-year Treasury yield climbed to a 19-year high this week.
U.S. debt has more than doubled from $19.4 trillion a decade ago, with July’s deficit alone reaching $432.3 billion, the largest monthly shortfall since March 2021, pushing the year-to-date total toward $1.8 trillion.
The Treasury Department has responded by doubling its long-dated bond buybacks to help stabilize yields.
Economist Mohamed El-Erian called the numbers “stunning,” noting that interest payments now consume 20% of federal tax revenue even as the government runs a 6% deficit despite historically low unemployment.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors
Photo courtesy: Philip Yabut / Shutterstock
