In 2022, the interest on the national debt was $775 billion, or 15.3% of federal revenues. Even though the national debt is currently a larger portion of the U.S. economy than any era of the nation's history, interest on the debt is currently about the same as historical norms. This is because the average interest rate on the debt has been much lower than in the past. However, the Congressional Budget Office "anticipates" that interest "payments will increase considerably as interest rates return to more typical levels."