Real Wealth Society

Wednesday, July 12, 2006

June interest on the national debt : $98bn so far this year By BabylonToday

The usually fat month of June interest on the national debt logged 98 billion bringing the fiscal annual total to 337+ billion dollars paid, in interest alone, on our national debt..... so far, this fiscal year.This logs in at just 15 billion under last year's total interest and 26 billion under the U.S. all time high, for interest paid on our debt, and there are still 3 months - a full quarter - to go in this fiscal year.

Bear in mind with average debt maturity of around 55 months, this is just the beginning of the massive interest bill that is due to come down the pike, for higher rates paid in recent years, having been averaged down by some of the lowest interest rates in 40 years that were paid over the years prior to this period. Looks like it promises to be quite a ride. How's it all goin otherwise gang?

God bless