National debt of the United States: Difference between revisions

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[[File:U.S. Federal Net Interest as Pct GDP.png|thumb|right|upright=1.35|Interest to GDP, a measure of debt burden, was very low in 2015 but is projected to rise with both interest rates and debt levels over the 2016–2026 period.]]

Despite rising debt levels, interest costs have remained at approximately 2008 levels (around $450&nbsp;billion in total) because of lower than long-term interest rates paid on government debt in recent years. The federal debt at the end of the 2018/19 fiscal year (ended September 30, 2019) was $22.7&nbsp;trillion (~${{Format price|{{Inflation|index=US-GDP|value=22700000000000|start_year=2018}}}} in {{Inflation/year|US-GDP}}). The portion that is held by the public was $16.8&nbsp;trillion. Neither figure includes approximately $2.5&nbsp;trillion owed to the government.<ref>{{Cite web|url=https://www.gao.gov/products/gao-20-117|title=Financial Audit: Bureau of the Fiscal Service's FY 2019 and FY 2018 Schedules of Federal Debt|first=U. S. Government Accountability|last=Office|website=www.gao.gov}}</ref> Interest on the debt was $404&nbsp;billion.<ref>https://www.gao.gov/assets/710/702591.pdf, https://www.gao.gov/assets/710/704983.pdf</ref>