An implantable interlaminar-interspinous stabilization system is provided. The system may comprise a U-shaped implantable device having an inferior section, a superior section, a midsection extending therebetween, and pair of lateral walls for engaging a spinous process of a vertebra, each of the lateral walls including an aperture with a countersink for receiving a bone fastener. The system may also include a bone fastener comprising a threaded bolt and a threaded nut for securing the implantable device to the spinous processes. Insertion tools may be provided for aligning the threaded bolt and nut through the apertures of the implantable device.