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Also, this number excludes state and local debt. According to the OECD, general government gross debt (federal, state, and local) in the United States in the fourth quarter of 2015 was $22.5 trillion (125% of GDP); subtracting out $5.25 trillion for intragovernmental federal debt to count only federal "debt held by the public" gives 96% of GDP.
The fiscal year starts Oct. 1, and in the first month the Treasury shelled out $88.9 billion in interest on its debt securities, while the Department of Defense spend $83.4 billion on military ...
As of 2009, there was $50.7 trillion of debt owed by US households, businesses, and governments, representing more than 3.5 times the annual gross domestic product of the United States. [2] As of the first quarter of 2010, domestic financial assets [b] totaled $131 trillion and domestic financial liabilities $106 trillion. [3]
In fiscal year (FY) 1965, mandatory spending accounted for 5.7 percent of gross domestic product (GDP). [4] In FY 2016, mandatory spending accounted for about 60 percent of the federal budget and over 13 percent of GDP. [5] Mandatory spending received $2.4 trillion of the total $3.9 trillion of federal spending in 2016. [5]
The federal government has paid north of $1 trillion in gross interest payments on its debt for fiscal 2024 as the national debt continues to climb. The Treasury Department said in a recent ...
Publicly held debt was 98% of U.S. gross domestic product as of October, compared with 32% in October 2001. Under a 2023 budget deal, Congress suspended the debt ceiling until Jan. 1, 2025.
Gross government debt is government financial liabilities that are debt instruments. [1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1 ...
Rising government debt burdens in the United States and elsewhere have become a growing cause for concern because of a recent rapid rise in interest rates, which has made it much more expensive to ...