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"v": 2.329966}, {"d": "2018-09-30", "v": 2.524886}, {"d": "2019-09-30", "v": 2.659766}, {"d": "2020-09-30", "v": 2.445122}, {"d": "2021-09-30", "v": 2.368364}, {"d": "2022-09-30", "v": 2.753719}, {"d": "2023-09-30", "v": 3.160031}, {"d": "2024-09-30", "v": 3.85636}, {"d": "2025-09-30", "v": 3.93896}]}], "state_changes": [{"on": "2026-08-31", "from": null, "to": "watch", "value": "3.236391", "note": "Net interest $1 054 B over the trailing twelve months is 3.24 % of GDP, 0.04 pp above the project's 3.20 % watch line. Reference points he showed: 1991 peak (Bianco, OMB) 3.20 %; CRFB FY2026 estimate, record 3.40 %."}], "state_history": [{"as_of": "2026-08-31", "state": "watch", "value": "3.236391"}, {"as_of": "2026-09-30", "state": "watch", "value": "3.186165"}]}