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C5 · HOW MUCH OF EVERY REVENUE DOLLAR THE DEBT ALREADY CLAIMS

Net interest / federal receipts (the ratio's spine)

17.19
WATCH ROBUST z 1.71 DRS 95 monthly as of 2026-04-30

Where it sits: higher than ~87% of its last 30 years.

The full history

2016 high 17.76 · low 7.14 · now 17.19 · 1 recession shaded 2026

How it is read

What it measures
how much of every revenue dollar the debt already claims
Where it sits
higher than ~87% of its last 30 years — at the 87th percentile of its last 30 years.
z vs. its window
1.71 (strain side: up). 123 observations in the window.
State rule
z < 1 CALM · 1 ≤ z < 2 WATCH · z ≥ 2 EXTREME, measured only toward the declared strain side.
Confidence
ROBUST — a primary official series, mechanically reported.
Reliability (DRS)
DRS 95 — Trailing-12-month interest expense on public issues over trailing-12-month total receipts (MTS Table 4) — receipts are seasonal, so a monthly ratio would whipsaw. This is the present-tense spine of the Crisis Ratio; the conditional cascade lives at crisisratio.com.

Where it comes from

TREASURY ↗ Every number on this site is reproducible from this primary source.

What it read at past stress points

Lehman, Sep 2008 no data — series began later
Q4-2018 selloff 9.63 ▲ EXTREME
Curve inversion, Aug 2019 10.47 ◆ WATCH
COVID crash, Mar 2020 10.64 ◆ WATCH

Questions it helps answer

  • The Debt — Can the debt be carried — and who is carrying it?