Common Interest: The Real Cost of $16 Trillion Debt
What is the real cost of the U.S. government’s nearly $16 trillion debt?
“The debt crisis is likely bigger than you think,” a new report issued last week by Deloitte, one of the world’s largest accounting firms, concluded.
That’s because interest payments add a whole new level of fiscal pain to the country’s debt problem. Interest payments on the national debt alone, it noted, are expected to total some $4.2 trillion over the next decade.
And that number could fluctuate depending on rates.