How much are our interest payments as a portion of GDP or revenues?

[arkana]

Anyone know this? I heard Ron Paul say recently it's only 10%, and thus we could still get our house in order. I thought that the interest payments were closer to a 1/3? Maybe that's just 1/3 of the income tax and not total collectibles.

Insight here appreciated. Thanks!

[wgadget]

I heard that it's now around 40%...eek.

[enoch150]

Federal tax confiscation in 2010 was $2.1617 Trillion. Interest on the debt was $196.9 Billion.
http://www.cbo.gov/ftpdocs/120xx/doc...les%5B1%5D.pdf

GDP in Q4 2010 was $14.755 Trillion.

[cubical]

We will pay over 400 billion in interest this year, so that is less than 10% of GDP. If we were paying 10% of GDP we would be paying 1.5 trillion a year in interest, which would not be sustainable.

http://www.treasurydirect.gov/govt/r...ir_expense.htm

[Cutlerzzz]

We will pay over 400 billion in interest this year, so that is less than 10% of GDP. If we were paying 10% of GDP we would be paying 1.5 trillion a year in interest, which would not be sustainable.http://www.treasurydirect.gov/govt/r...ir_expense.htm

Just give it a few years.

[cubical]

Just give it a few years.

fed wont let that happen, which is why I believe there will be lots in inflation in the coming years.

[wgadget]

You might be interested in this...front and center Drudge Report.

http://news.yahoo.com/us-aaa-rating-...204040123.html

[cubical]

This doesn't even include the debt that fannie and freddie have. As well as sallie mae. So add several trillion to the 14.7 trillion they say we have.

[Seraphim]

Insanity.

The fact that the USA will soon be paying over A TRILLION DOLLARS A YEAR in INTEREST ALONE - is $#@!ing mind boggling.

Seriously, if you aren't buying gold and silver - YOU are the maker of your own demise.

Comment not aimed at Cubical - but in general.

This doesn't even include the debt that fannie and freddie have. As well as sallie mae. So add several trillion to the 14.7 trillion they say we have.