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Fed’s Inflation Fight Pushes Up Cost of U.S. Debt
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WASHINGTON—An era of ultracheap debt is over in Washington as higher borrowing costs widen the U.S. deficit and fuel a partisan clash over raising the debt ceiling and how much borrowing could be too much.
The Treasury’s spending on interest on the debt was $261 billion in the first four months of this fiscal year, a 33% increase from $196 billion spent in the same period last year, according to the department.
Read more on wsj.comAbout this in other media
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