I understand that the current national debt is 9.4 trillion not including the interest owed. What is the amount of the total debt with the interest?
What is the amount of interest owed on the current national debt figure of 9.4 trillion?
Hazey, the interest on the federal debt from the most recent (FY 2007) year was a staggering $429,977,998,108.20!!! That huge expenditure buys no services, infrastructure or protection. That tragedy is compounded by the fact that much of it goes directly to foreign governments and investors.
In general, the interest is paid via Treasury Issues (Bills, Notes and Bonds) that mature from a few days out to thirty years. We have forced that debt service onto our children and grandchildren, probably throughout the rest of this Century. Thomas Jefferson failed in his attempt to prevent one generation from paying back the previous generation's debts, showing his amazing foresight. The reality is that such debt-service represents the largest tax-increase in US history, but not elected official has the courage to acknowledge such.
However, there is some light at the end of this tunnel, if only more folks like you would pose your question whenever possible.
Reply:Simple interest= Principle * Rate * Time
So u just need the rate at which they are charging the interest, plug in the values and then add the simple interest back to the princile and u will get your answer ( Atleast if i remembered correctly from school) My guess as to the answer, is toooo much......
azalea tree
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