samhill wrote:What's the going interest rate on the debt? Just like paying a mortgage, It don't drop much until you pay down the principal & we haven't done a dollar of that since somewhere in the 60s or before, came close once but no cigar. We don't have to spend anything & will still be going deeper in debt.
The interest rate on the national debt is related to the interest rate paid out on long term government Treasury bonds (notes). They are artificially low in rate right now.
10 year interest rate = 1.56%
20 year interest rate = 2.25%
30 year interest rate = 2.60%
These are the interest rates at which the government borrows money from the Federal Reserve.