Oak Brook Data Firm Releases Report on State & Local Interest Payments Amid $1 Trillion Federal Interest Mark

OAK BROOK, IL - SEPTEMBER 30, 2024

As U.S. federal interest payments hit a staggering $1 trillion milestone, StatisNostics releases a comprehensive report on the cascading effects of government debt across all levels of government.

The Oak Brook, Illinois data firm’s report reveals that federal interest payments now consume 22.72% of tax revenue, with projections indicating the federal debt could reach 166.2% of GNP in 30 years. The study also provides a state-by-state breakdown of per capita state and local debt, ranging from $35,933 in Illinois to $6,173 in Idaho.

“We commend this study to the careful attention of taxpayers interested in the bigger picture of how government spending induces debts that in turn transfer massive amounts of generational wealth...” says Partner Edward N. Tiesenga.

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