$380 billion/year interest being paid on ~$20 trillion National debt, with Revenues of only $3.4 trillion yearly

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Joseph Arabasz MD

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Nov 20, 2018, 5:29:59 PM11/20/18
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380x10 9th                                               yearly interest paid on national debt divided by US Revenue
_______________     =  12%
3.4x10 12th


380X10 9th                                               yearly interest paid on national debt divided by US GDP
______________      =   19%
20.4X10 12th


"Within a decade, more than $900 billion in interest payments will be due annually, easily more than on myriad other programs

the fastest increasing government expense, the cost of interest is on track to hit $390 billion next year, about 50 percent more than in 2017, according to the Congressional Budget Office

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"The U.S. government's total revenue is estimated to be $3.422 trillion for Fiscal Year 2019. That's the most recent forecast from the Office of Management and Budget for October 1, 2018, through September 30, 2019.

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"The revenue collected equals 16.3 percent of gross domestic product" - described as essentially the overall tax rate

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"The government's annual income only pays for ~90 percent of spending. It creates a $985 billion budget deficit." ( ~1 trillion/year )

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"US Revenue by Year
Here's a record of income for each fiscal year since 1960

FY 2019 - $3.422 trillion, estimated.
FY 2018 - $3.34 trillion, estimated.
FY 2017 - $3.32 trillion.
FY 2016 - $3.27 trillion.
FY 2015 - $3.25 trillion.
FY 2014 - $3.02 trillion.
FY 2013 - $2.77 trillion.
FY 2012 - $2.45 trillion.
FY 2011 - $2.30 trillion.
FY 2010 - $2.16 trillion.
FY 2009 - $2.10 trillion.
FY 2008 - $2.52 trillion.
FY 2007 - $2.57 trillion.
FY 2006 - $2.4 trillion.
FY 2005 - $2.15 trillion.
FY 2004 - $1.88 trillion.
FY 2003 - $1.72 trillion.
FY 2002 - $1.85 trillion.
FY 2001 - $1.99 trillion.
FY 2000 - $2.03 trillion.
FY 1999 - $1.82 trillion.
FY 1998 - $1.72 trillion.
FY 1997 - $1.58 trillion.
FY 1996 - $1.45 trillion.
FY 1995 - $1.35 trillion.
FY 1994 - $1.26 trillion.
FY 1993 - $1.15 trillion.
FY 1992 - $1.09 trillion.
FY 1991 - $1.05 trillion.
FY 1990 - $1.03 trillion.
FY 1989 - $991 billion.
FY 1988 - $909 billion.
FY 1987 - $854 billion.
FY 1986 - $769 billion.
FY 1985 - $734 billion.
FY 1984 - $666 billion.
FY 1983 - $601 billion.
FY 1982 - $618 billion.
FY 1981 - $599 billion.
FY 1980 - $517 billion.
FY 1979 - $463 billion.
FY 1978 - $399 billion.
FY 1977 - $356 billion.
FY 1976 - $298 billion.
FY 1975 - $279 billion.
FY 1974 - $263 billion.
FY 1973 - $231 billion.
FY 1972 - $207 billion.
FY 1971 - $187 billion.
FY 1970 - $193 billion.
FY 1969 - $187 billion.
FY 1968 - $153 billion.
FY 1967 - $149 billion.
FY 1966 - $131 billion.
FY 1965 - $117 billion.
FY 1964 - $113 billion.
FY 1963 - $107 billion.
FY 1962 - $100 billion.
FY 1961 - $94 billion.
FY 1960 - $93 billion.
FY 1789-1959 - $1.1 trillion. (Source: "Table 1.1—Summary of Receipts, Outlays, and Surpluses or Deficits (-): 1789–2018," OMB.)
Understand the Current Federal Budget

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interest payments on the debt are estimated to total $276.2 billion this fiscal year, or 6.8% of all federal outlays. (The government projects it will pay out about $474.5 billion in interest in fiscal 2017, which ends Sept. 30. But that includes interest credited to Social Security and other government trust funds, as well as a relatively small amount of offsetting investment income.) By comparison, debt service was more than 15% of federal outlays in the mid-1990s; the share has fallen partly because lower rates have held down interest payments, but also because outlays have risen substantially up about ~30% over the last decade.

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"Here’s a primer on the U.S. national debt, the debt limit and interest payments on the nation’s credit line-

As of July 31, the federal government’s total debt stands at $19.845 trillion, according to the Treasury Department’s monthly reckoning. Nearly all of it is subject to the statutory debt ceiling, which is currently set at just under $19.809 trillion. As a result, as of the end of July there was just $25 million in unused debt capacity remaining


The nation’s debt is now bigger than its gross domestic product, which was an estimated $19.23 trillion in the second quarter


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National public debts of world public debt, 2012 estimates (CIA World Factbook 2013)[14]
country public debt
(billion USD)
% of GDP per capita (USD) % of world public debt
World 56,308 64% 7,936 100.0%
 United States* 17,607 74% 55,630 31.3%
 Japan 9,872 214% 77,577 17.5%
 China 3,894 32% 2,885 6.9%
 Germany 2,592 82% 31,945 4.6%
 Italy 2,334 126% 37,956 4.1%
 France 2,105 90% 31,915 3.7%
 United Kingdom 2,064 89% 32,553 3.7%
 Brazil 1,324 55% 6,588 2.4%
 Spain 1,228 85% 25,931 2.2%
 Canada 1,206 84% 34,902 2.1%
 India 995 52% 830 1.8%
 Mexico 629 35% 5,416 1.1%
 South Korea 535 34% 10,919 1.0%
 Turkey 489 40% 6,060 0.9%
 Netherlands 488 69% 29,060 0.9%
 Egypt 479 85% 5,610 0.9%
 Greece 436 161% 40,486 0.8%
 Poland 434 54% 11,298 0.8%
 Belgium 396 100% 37,948 0.7%
 Singapore 370 111% 67,843 0.7%
 Taiwan 323 36% 13,860 0.6%
 Argentina 323 42% 7,571 0.6%
 Indonesia 311 25% 1,240 0.6%
 Russia 308 12% 2,159 0.6%
 Portugal 297 120% 27,531 0.5%
 Thailand 292 43% 4,330 0.5%
 Pakistan 283 50% 1,462 0.5%

* US data exclude debt issued by individual US states, as well as intra-governmental debt-




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