Question of the Day

If the annual interest paid on the combined debts of U.S. federal, state, and local governments were evenly divided between all U.S. households, how much would this be per household per year?

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In 2012, federal, state, and local governments paid $631.6 billion in interest on their debts. This amounts to $5,216 per U.S. household. Interest rates on government debts are currently low by historical standards, and the Congressional Budget Office projects a "substantial rise in interest rates as the economy strengthens." This will "sharply boost interest payments on the debt."

DocumentationGovernment Spending (Table 3.16)CBO's Budget and Economic Outlook