The US has the highest public debt service costs in the world: US net interest as a % of total government revenue reached 13% in 2024. This marks the highest share among major world economies. By comparison, Hungary, Canada, and Italy have a net cost of debt of 10%, 9%, and 8%, respectively. Heavily indebted Japan has interest costs of just 1% as the country benefits from relatively low interest rates. Meanwhile, the federal government has paid a record 1.2 TRILLION in interest on public debt over the last 12 months. The US government needs lower rates more than anyone.(The Kobeissi Letter)