$4.8 trillion – Interest on U.S. Debt

Posted By on November 20, 2009

Shocking and hard to believe, but real.

Do you want gold as insurance or the dollar long-term?

$4.8 trillion – Interest on U.S. Debt

Unless lawmakers make big changes, the interest Americans will have to pay to keep the country running over the next decade will reach unheard of levels.

By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: November 19, 2009: 1:05 PM ET

NEW YORK (CNNMoney.com) — Here’s a new way to think about the U.S. government’s epic borrowing: More than half of the $9 trillion in debt that Uncle Sam is expected to build up over the next decade will be interest.

More than half. In fact, $4.8 trillion.

If that’s hard to grasp, here’s another way to look at why that’s a problem.

In 2015 alone, the estimated interest due – $533 billion – is equal to a third of the federal income taxes expected to be paid that year, said Charles Konigsberg, chief budget counsel of the Concord Coalition, a deficit watchdog group.

About the author


Comments are closed.

Copyright © 2021 The Stated Truth