Annual Interest Bill:
Percent of Tax Dollars Spent on Interest:
Projected Increase in Debt (2016-17):
Previous Year's Increase in Debt (2015-16):
Increase in Debt Since the Year 2000:
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.