In 2015 the federal government spent $3.7 Trillion to pay its bills (I.e. Military, Social Security, Medicare/Medicaid, Education etc.). It also collected $3.2 Trillion from taxpayers (I.e. Your paycheck).
Over the years, the federal government has borrowed money to take care of its needs. All together, it owes $18.7 Trillion on its “credit cards” and “loans” combined.
In 2015, it used the taxes we paid to pay $402 Billion in INTEREST ONLY on the total amount it owes.
Here is a real time total of what the federal government owes and who it owes it to.
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