Debt Situation - US national debt is currently $37 trillion [1] - Net interest payments are $900 billion per year, representing the second largest federal expenditure [1] - The government will spend 40% more than it takes in this year [2] - The debt is about six times the amount of money the government takes in [2] Debt Management - The government needs to come up with $12 trillion next year, essentially debt it has to sell [2] - $1 trillion, about half of the budget deficit, goes to interest [3] - $9 trillion of debt needs to be rolled forward as it's maturing [3] - An additional $2 trillion of debt will be sold [3]