The Cost of Paying Off America’s National Debt: What it Means for Each American Citizen

As Congress debates the debt limit, some believe that the government has unlimited borrowing power, but the cost of the debt is significant for Americans. The federal government exceeded the $2.5 trillion debt limit increase enacted by Democrats in December 2021, adding $19,200 in debt per household in the past 13 months. How much would it actually cost each American to pay off our national debt? For more information, Lars speaks with Rachel Greszler, a Research Fellow in Economics, Budget and Entitlements at the Heritage Foundation.