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“The interest paid on government indebtedness for fiscal 1991 was $286.0 billion. The interest paid on government indebtedness for fiscal 1992 was $292.3 billion. The estimated interest for fiscal 1993 is $294.6 billion.

“Why don’t Americans get angry about this? Maybe the absence of justifiable fury is traceable to the incomprehensible size of the amounts we’re discussing. So, let’s break it down to the cost per person. In other words, how much does each American pay for interest?

“In round figures, there are 250 million Americans. The admitted government interest bill for a single year is roughly $290 billion. In 1992, therefore, the average tab—just for interest on the national debt— was over $1,000 for every man, woman and child in this nation.” (John F. McManus, Financial Terrorism, p. 58-59. 1993.)

Related Categories
Money
Money: Debt