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short answer: the interest is paid to folks who buy treasurey bills and gvmt bonds.
in theory some is going to social security fund, but that's just paying interest to ourselves, so it's funny money.
probably a Google search of tbill and gvmt bond buyers will show the folks we send dollars to. Saudi Arabia (our friend and ally), and China.
The US will be in trouble if they don't roll them over and want cash.
Wiki User
∙ 15y ago
Wiki User
∙ 12y agoLook for the related links part to see a website that shows the national debt and the interest cost go up in real time.
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Who pays interest on the national debt?
The people do.
What is the daily interest on Brazil's national debt?
zero
What makes up the largest portion of uncontrollable spending in the national budget?
The largest portion of uncontrollable spending in the federal budget is the spending that Congress approves.
What is the daily interest on the national debt?
Type your answer here... $1,300,000,000
Why did Thomas Paine believed that a National debt is good for a country?
Paine's exact words are "The debt we may contract doth not deserve our regard, if the work be but accomplished. No nation ought to be without a debt. A national debt is a national bond; and when it bears no interest, is in no case a grievance." He recognises that a country needs to spend money on certain public works such as national defense and provision for the poor. He also seems to think the debt will give its holders a stake in the country and thus contribute to social cohesion. However, his hope that these holders will charge no interest is not especially realistic. And he devotes considerable energy to showing the damage that can be done if the debt gets out of control.
How much is the interest on the US National Debt?
Currently, American taxpayers are paying $53,000,000,000 (yes that's BILLION) per MONTH just for the INTEREST on our current debt!
Why is the US national debt important?
Currently the US national debt is about 13 trillion dollars, and this is an extremely large amount. The nation is deeply in debt. Debts are expensive because lenders charge interest.
The total amount that a nation's government owes is called?
Debt. The amount the government spends, above and beyond incoming revenue is called a deficit. The accumulated annual deficit spending plus interest is the debt.
What is the interest and the total amount of money that the US government has borrowed known as?
The National Debt
Where did Hamilton expect that the revenue to pay the interest on the national debt would come from?
Hamilton expected that the revenue to pay the interest on the national debt would come from excise taxes and customs duties. He did not want the revenue to come from income tax.
What are three ways in which the Constitution strengthened the national government?
It created a national bank, proposed the power to enforce tariffs and taxes to pay debt, and also that the entire national debt plus interest was to be paid in full
What percent of the national budget is spent on interest for debt incurred during the George Bush years?
100%
