If the interest payments on the national debt were evenly charged to every household in the United States, how much per year would this cost each household?
In 2021, the interest on the national debt was $461 billion, or an average of $3,551 for every household in the United States. Despite explosive growth in the national debt over the past two decades, interest on the national debt is currently a smaller portion of federal revenues than historical norms. This is because the average interest rate on the debt has been much lower than in the past. However, the Congressional Budget Office "anticipates that those payments will increase considerably as interest rates return to more typical levels."