Tensions in West Asia have escalated again after the United States carried out strikes on Iranian targets over the past three days. The renewed conflict has pushed crude oil prices sharply higher, with prices rising around 11 percent in the past week to their highest level in a month. The increase has also raised concerns about higher inflation around the world.
US national debt continues to grow
The United States’ national debt has reached $39.4 trillion. Over the past 12 months, the debt has increased by $3.2 trillion, and since 2020, it has grown by $16.3 trillion.
Over the last six years, US debt has increased by an average of $2.5 trillion every year. If this trend continues, the country’s total debt could cross $50 trillion before 2030.
Interest payments are becoming a major burden
Efforts by the Trump administration to reduce the national debt have not produced significant results so far.
A large share of the US government’s revenue is now being used to pay interest on its debt. Interest payments have reached 3.2 percent of the country’s GDP, the highest level since the 1970s.
Since 2020, annual interest payments have increased by about 140 percent, rising from $711 billion to $1.22 trillion. They now account for around 15 percent of the US federal budget.
Cost of the Iran conflict
The United States and Israel launched military strikes against Iran on February 28. An interim agreement between the two sides was reached on June 17, ending 108 days of fighting. According to the report, the US spent around $113 billion on military operations during the conflict.
Fighting has now resumed, and this time the US has reportedly deployed the F-22 Raptor, one of the world’s most advanced and expensive fighter jets, in the latest military operations.
First published on: Jul 14, 2026 10:13 PM IST
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