US debt interest payments surge past $1 trillion yearly pace, worsening concerns about massive borrowing

• US annualized debt interest payments crossed $1 trillion in October, according to a Bloomberg analysis.
• The cost of debt has doubled in the past 19 months as federal deficits balloon.
• High interest rates have made borrowing more expensive, adding pressure on US debt.

The estimated annualized interest payments on the US government debt pile topped $1 trillion at the end of October, according to data analyzed by Bloomberg Intelligence.