Every US Resident Pays 730 Dollars on Federal Debt Interest This Year. What If Interest Rates Rise?
- By : JanssenReportHost
- Category : Global Economy
Today on The Janssen Report (#73): Every US Resident Pays 730 Dollars on Federal Debt Interest This Year. What If Interest Rates Rise?
The Congressional Budget Office (CBO) estimates 2014 interest payments on US federal debt to amount to roughly 233 billion dollars. This is the number in today’s low-interest climate with the Federal Reserve keeping rates artificially low.
Just to put things in perspective: 233 billion amounts to roughly 730 dollars per US resident this year alone and this includes the young!
If you’re a US resident, how do you feel about spending 730 dollars on just interest this year? And what if the interest goes back up? Once the Fed stops manipulating the interest rate, all it can do is go up.
The CBO estimates the 2024 federal interest payments to amount to roughly 880 billion…
Time for a change?
Watch this episode of The Janssen Report below:
Links to sources:
– CBO: Interests Costs To Dwarf Virtually Every Federal Expense
– US Population (Census.gov)
Cheers,
Marco Janssen
