Interest Per Household
If the interest on the national debt in 2023 were equally paid by every household in the United States, how much would it cost each of them?
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In 2023, the interest on the national debt was $961 billion, or an average of $7,309 for every household in the United States. Despite explosive growth in the national debt over recent decades, interest on the debt is currently about the same portion of federal revenues as 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."
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