Federal

$25.7 Billion

Annual Interest Bill:

$25.7 Billion

Percent of Tax Dollars Spent on Interest:

8.8%

Projected Increase in Debt (2016-17):

$31.8 Billion

Previous Year's Increase in Debt (2015-16):

$8.7 Billion

Increase in Debt Since the Year 2000:

17.9%

Debt-to-GDP Ratio

34.6%

Useful Facts and Analysis (Federal):

  • The 2016 budget projects an increase in the net debt of the federal government of $106.8 billion over the next four years. 
  • The 2016 budget projects an increase in the federal government's accumulated deficit (net debt minus capital investment) of $98.9 billion over the next four years.
  • Government interest costs a family of four $2993/year in additional taxes.
  • The government has spent over $950 billion on interest since 1990. 
  • The debt increases by $87,063,655.03 a day, $60,460.87 a minute and $1,007.68 a second.