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2023 Interest on federal debt. Interest expense on the public debt was approximately $678 billion in FY2023. During FY2023, the government also accrued a non-cash interest expense of $197 billion for intra-governmental debt, primarily the Social Security Trust Fund, for a total interest expense of $875 billion.
"What is a Federal Agency?" (PDF). Federal Agency Directory. Louisiana State University Libraries. Archived from the original (PDF) on 18 May 2013; Kamensky, John (Spring 2013). "Mapping the Contours of the Federal Government" (PDF). Administrative and Regulatory Law News. 38 (3). American Bar Association: 3– 4
An increasing percentage of the federal budget became devoted to mandatory spending. [3] In 1947, Social Security accounted for just under five percent of the federal budget and less than one-half of one percent of GDP. [8] By 1962, 13 percent of the federal budget and half of all mandatory spending was committed to Social Security. [3]
In order to provide an incentive for individuals, businesses and other entities to lend money, the government must also pay these parties interest on the debt. [19] The interest expense for fiscal year 2019 is $363 billion, or 7.9% of the total budget. According to estimates from the Office of Management and Budget, interest on government debt ...
Over that period, the growth of interest costs and mandatory spending outpaces the growth of revenues and the economy, driving up debt. Those factors persist beyond 2034, pushing federal debt higher still, to 172 percent of GDP in 2054. [1] The amount of U.S. public debt, measured as a percentage of GDP, held by the public since 1900
Intragovernmental debt accounts for about $6.8 trillion of the national debt, the CRFB reported in September when the debt crossed the $33 trillion mark. The much bigger piece of the debt is held ...
$4.4 trillion invested by 74 federal agencies $2.9 trillion in 18 managed trust funds (Social Security, Highway, etc.) $1.5 trillion in 228 other federal government trust and investment accounts; $218 billion invested by over 6,000 state and local governments; $789 billion loaned to 37 federal agencies; Summary Debt Accounting:
The U.S. Department of Education’s newly announced federal student loan interest rates for the 2024-25 academic year broke longstanding records. Experts and policymakers alike predicted a jump ...