- Whose debt?: The authors study current levels of government debt, the debt accumulated by recent presidents, and the burden of future debt projected to accumulate under current law, current policy, and the Administration’s budget.
- Who pays for existing debt?: If interest costs are financed in line with the progressivity of the federal tax system under current policy, a household with annual earnings between $50,000-75,000 would pay $1390.49 a year to service the current debt.
- Who pays for future debt projected to accumulate through 2022?: Under current law, the Administration’s budget, and current policy, if interest costs are financed with federal taxes a household earning $50,000-75,000 would pay an additional:
- Current law: $390
- Administration’s budget: $880
- Current policy: $1350
Read the full paper here
Aspen Gorry ([email protected]) is a research fellow at the American Enterprise Institute, where Matt Jensen ([email protected]) is a research associate in economic policy studies.
For additional help, other media inquiries, or to reserve AEI's in-house TV studio or ISDN facilities, please contact:
TV or Radio Jesse Blumenthal [email protected] / 202.862.4870
Print or Web Jesse Blumenthal [email protected] / 202.862.4870 or Veronique Rodman at [email protected] / 202.862.4871