It then looks at the differing extrapolated values and contrasts them with official predictions. The U.S. Federal government has a long history of spending more money each year than it receives. When you spend more money than you receive, you eventually go into debt , i.e., you will have to borrow money in order to pay your bills. This is also true of the Federal government, which, because of the annual deficits, has accumulated an enormous debt. When you go into debt, the individuals and institutions that lend you money charge interest, computed as a percentage of the amount of money you currently owe on your loan.
Interest is a fee paid to the lender on a regular schedule, such as monthly or yearly.
For information on the national debt, the US Department of Treasury website is the place to go. Inc. All rights reserved.