Thread: Total debt interest per U.S. citizen is 9,063$?

What is exactly total debt interest per U.S. citizen and in what measures it could be understood? According to this debt clock total debt for an average U.S. family is 748,000 and total debt interest per citizen is 9,063. What makes 36+ thousands per 4 person family. 36 thousands of USD to pay as an interest per year make it a huge number. Do you think it is believable? U.S. National Debt Clock : Real Time

That interest number is a rather wide net including household, local, state, federal and corporate debt.

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Then to think that at one time we could have paid off the debt and use all that interest for taxbreaks or infrastructure.
Instead they gave the tax break and kept the debt + interest. Very smart economics.

Originally Posted by Stanley514

That interest number is a rather wide net including household, local, state, federal and corporate debt.

But does that mean that an average 4 members family have really pay 36,000 of money as a debt interest in one or another way? I mean do they really become poorer on 36,600 USD than they actually could be?

Currency related numbers released by governments cannot and should not be taken as factual. With that said, just about every person will pay one way or another, with most paying by way of inflation / unfounded new money creation.

Individuals may not pay directly but, their government will, and this is how each individual pays and will continue to pay. The value of the money you earn and have is steadily being devalued by government "debt" and their commitment to pay it (create it out of thin air).

Originally Posted by Stanley514

But does that mean that an average 4 members family have really pay 36,000 of money as a debt interest in one or another way? I mean do they really become poorer on 36,600 USD than they actually could be?

In a way, yes. Like any other loan you can pay now or pay more later. We've been on the "pay more later" path for decades now.

Originally Posted by Stanley514

That interest number is a rather wide net including household, local, state, federal and corporate debt.

But does that mean that an average 4 members family have really pay 36,000 of money as a debt interest in one or another way? I mean do they really become poorer on 36,600 USD than they actually could be?

Same question. Considering probably at least a quarter of adult Americans are paying some form of mortgage, that number isn't alarming at all. It's probably pretty low considering interest rates have been low for at least a decade.