We borrow 40% of what we spend. About 6% of total spending is interest on debt.
Ah ok, that makes sense. Can you tell me if 40% of the money collected in income taxes (rather than total spending) is the same amount that we pay in interest payments? For some reason I recall the interest payments being 40% of something else, but it might just be the 40% of spending is borrowed, as you said. Thanks in advance, either way!