$80 billion in interest on the national debt

VadimR

Senior Member
Russian
From The Pursuit of Happiness film.

"And we face runaway deficits of almost $80 billion for this budget year that ends September 30th.
That deficit is larger than the entire federal budget in 1957.
And so is the almost $80 billion we will pay in interest this year on the national debt."

Can someone, please, explain the bold phrase. Does the interest mean percents here or something else?
 
  • ewie

    Senior Member
    English English
    If the national debt was $800bn and the interest rate was 10%, they'd pay $80bn in interest on the debt.
     
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