More about U.S. Debt

Definition: Debt Level:

The debt level is the debt as a percent of the total country's production, or GDP, which was $14.7 trillion (Q3 2010). The debt is 94% of GDP, up from 51% in 1988.

Interest on the debt was $414 billion in Fiscal Year 2010, higher than the $383 billion in FY 2009, but lower than its peak of $451 billion in FY 2008. That's because of lower interest rates. The interest on the debt is the fifth largest Federal budget item, after Defense and Security spending ($890 billion), Social Security ($730 billion) and Medicare ($490 billion).

(Source: U.S. Treasury, Interest)

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JG: This is an extremely sad statistic about the U.S. 94% of our Gross Domestic Product goes to pay the interest (and none of the principal) in the humongous U.S. National Debt. The day of reckoning is approaching very fast.