![]() ![]() Silicon Valley Bank imploded in part because the surge in interest rates over the past year slashed the value of its long-dated Treasuries. The US government partly funds its deficit by issuing Treasuries. ![]() The federal deficit also grew by nearly $250 billion to $723 billion this fiscal year. Servicing the debt costs about $400 billion a year, or nearly 7% of the government's annual budget. The federal government has about $31.5 trillion of debt, exceeding the US economy's fourth-quarter GDP of $26 trillion, the Pew Research Center says. ![]()
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