C5 · HOW MUCH OF EVERY REVENUE DOLLAR THE DEBT ALREADY CLAIMS
Net interest / federal receipts (the ratio's spine)
17.19
WATCHROBUSTz 1.71DRS 95monthlyas 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?