Total Interest Expense (National Public Debt) Sources: http://www.treasurydirect.

gov/govt/reports/pd/feddebt/feddebt_ann
(in billions) http://www.treasurydirect.gov/govt/reports/pd/feddebt/feddeb

Fiscal Year 2005 2006 2007 2008 2009

Held by the Public 174 183 194 212 192
Intragov't Debt Holdings 181 221 239 242 189
Total 355 404 433 454 381

GDP (billions) 12,237.90 13,015.50 13,667.50 14,222.30 14,237.20

% of GDP spent on interest on
debt held by the public 1.42% 1.41% 1.42% 1.49% 1.35%

Interest on public debt portion

if rates were same as 2006
Actual amount paid
Theoretical savings
/govt/reports/pd/feddebt/feddebt_ann2009.pdf
govt/reports/pd/feddebt/feddebt_ann2010.pdf

2010
198
215
413

14,623.90

1.35%

415
198
217
Year
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998
5,008.6 5,400.5 5,735.4 5,935.1 6,239.9 6,575.5 6,961.3 7,325.8 7,694.1 8,182.4 8,627.9
1999 2000 2001 2002 2003 2004 2005 2006 2007 2010 esti 2008
9,125.3 9,709.8 ### 10,377.4 10,808.6 11,499.9 12,237.9 13,015.5 13,667.5 14,623.9 14,222.3
2009 Total Result
14,237.2 217,269.7
Column B
4.28% 21414.50% 198800.00% 500860.00% Source for Ann
8.92% 24086.32% 397800.00% 540050.00%

Year GDP
1988 5,008.6
1989 5,400.5
1990 5,735.4
1991 5,935.1
1992 6,239.9
1993 6,575.5
1994 6,961.3
1995 7,325.8
1996 7,694.1
1997 8,182.4
1998 8,627.9
1999 9,125.3
2000 9,709.8
2001 10,057.9
2002 10,377.4
2003 10,808.6
2004 11,499.9
2005 12,237.9
2006 13,015.5
2007 13,667.5
2008 14,222.3
2009 14,237.2
2010 estimate 14,623.9
2011 estimate 15299.0
Source for Ann(empty) Total Result
961945.24%
Year 1988 1989 1990 1991 1992 1993 1994 1995
Interest 214.15 240.86 264.85 286.02 292.36 292.50 296.28 332.41
GDP 5,008.60 5,400.50 5,735.40 5,935.10 6,239.90 6,575.50 6,961.30 7,325.80
% of GDP 4.28% 4.46% 4.62% 4.82% 4.69% 4.45% 4.26% 4.54%
Interest on Debt held by the Public
% GDP of Interest Paid Out to the Public

Source for Annual Interest Payments on National Debt: http://www.treasurydirect.gov/govt/reports/ir/ir_expense.

Source for Annual GDP: http://www.gpoaccess.gov/usbudget/fy09/hist.html

1988 1989 1990 1991 1992 1993 1994 1995

4.28% 4.46% 4.62% 4.82% 4.69% 4.45% 4.26% 4.54%
 1996 1997 1998 1999 2000 2001 2002 2003 2004
343.96 355.80 363.82 353.51 362.00 359.51 332.54 318.15 321.57
7,694.10 8,182.40 8,627.90 9,125.30 9,709.80 10,057.90 10,377.40 10,808.60 11,499.90
4.47% 4.35% 4.22% 3.87% 3.73% 3.57% 3.20% 2.94% 2.80%

govt/reports/ir/ir_expense.htm

1996 1997 1998 1999 2000 2001 2002 2003 2004

4.47% 4.35% 4.22% 3.87% 3.73% 3.57% 3.20% 2.94% 2.80%
 2005 2006 2007 2008 2009 2010 2011
352.35 405.87 429.98 451.15 383.07 413.95
12,237.90 13,015.50 13,667.50 14,222.3 14,237.2 14,623.9 15,299.00
2.88% 3.12% 3.15% 3.17% 2.69% 2.83%
174 183 194 212 192 198
1.42% 1.41% 1.42% 1.49% 1.35% 1.35%

2005 2006 2007 2008 2009 2010

2.88% 3.12% 3.15% 3.15% 2.55% 2.83%
 2010
Amount Average Interest My Column
Rates
Marketable:
TreasuryBills $1,783,675 0.20% 3,567.35
TreasuryNotes 5,252,585 2.60% 136,567.21
TreasuryBonds 846,054 6.10% 51,609.29
TIPS 593,614 2.20% 13,059.51
Total Marketable $8,475,928 204,803.36
Nonmarketable $546,880 2.80% 15,312.64
Total Federal Debt Held by the Public $9,022,808 220,116.00

Scenario #1: Interest Rates same as 2009

TreasuryBills $1,783,675 0.30% $5,351.03
TreasuryNotes $5,252,585 3.00% $157,577.55
TreasuryBonds $846,054 6.50% $54,993.51
TIPS $593,614 2.10% $12,465.89
$8,475,928 $230,387.98
Nonmarketable $546,880 3.70% $20,234.56
$9,022,808 $250,622.54
minus 220,116.00
Would have cost us an additional -- delta $30,506.54

Scenario #2: Interest Rates same as January 2011

$1,783,675 0.2% $3,513.84
$5,252,585 2.5% $129,318.64
$846,054 5.9% $50,001.79
$593,614 2.1% $12,305.62
$8,475,928 $195,139.89
$546,880 4.1% $22,558.80
$9,022,808 $217,698.69
If we paid Jan 2011 rates for all of minus 220,116.00
2010, we would have saved: delta ($2,417.31)

Scenario #3: Interest Rates same as 2005 or 2006 2005

TreasuryBills $1,783,675 3.40% $60,644.95
TreasuryNotes $5,252,585 3.70% $194,345.65
TreasuryBonds $846,054 7.90% $66,838.27
TIPS $593,614 2.40% $14,246.74
$8,475,928 $336,075.60
Nonmarketable $546,880 4.90% $26,797.12
$9,022,808 $362,872.72
minus 220,116.00
Would have cost us an additional -- delta $142,756.72
 2009
Amount Average Interest My Column
Rates

$1,986,174 0.30% 5,958.52

3,772,964 3.00% 113,188.92
677,491 6.50% 44,036.92
551,308 2.10% 11,577.47
$6,987,937 174,761.83
$563,925 3.70% 20,865.23
$7,551,862 195,627.05

2006
5.00% $89,183.75
4.20% $220,608.57
7.60% $64,300.10
2.30% $13,653.12
$387,745.55
5.00% $27,344.00
$415,089.55
220,116.00
$194,973.54