Any recent figures on how much in interest payments/year the U.S. makes to foreign creditors?

[brentspeak]

There's a http://en.wikipedia.org/wiki/United_States_public_debt#Statistics_and_comparables">2003 statistic in Wikipedia which puts the number at $318 billion or over 16% of all federal tax revenues. Is there a more recent figure? And is it accurate to say that at least 16% of every taxpayer dollar goes simply to service interest on our external (foreign-held) debt?

[bluebellbaby]

1. Here's some recent figures in table form

http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm


Interest Expense Fiscal Year 2009
March $19,829,502,464.91

February $10,311,076,391.59
January $ 3,132,139,257.38
December $97,775,030,034.07

November $18,558,733,892.95
October $18,984,305,636.29
Fiscal Year Total $168,590,787,677.19

Available Historical Data Fiscal Year End
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
1997 $355,795,834,214.66
1996 $343,955,076,695.15
1995 $332,413,555,030.62
1994 $296,277,764,246.26
1993 $292,502,219,484.25
1992 $292,361,073,070.74
1991 $286,021,921,181.04
1990 $264,852,544,615.90
1989 $240,863,231,535.71
1988 $214,145,028,847.73

[brentspeak]

2. Thanks

Of course, Treasury doesn't want to detail how much goes for Treasury bonds, as opposed to savings bonds, etc. It's like they're trying to hide something.

[Old Hob]

4. We have reached that infamous point where we have to borrow $$ to make the interest payments

One might argue about the numbers but, the fact remains, if we paid off the interest purely with tax revenue, the country would collapse because there would be insufficient funds left to pay for most of the things that many of us presently take for granted.

[Mnemosyne]

3. Wonder how long until 'we' quit paying that interest; if we haven't already. n/t

[brentspeak]

5. kick

:kick: