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Albert Sung is the author of the Katchum Macro-Economic Blog, monitoring breaking economic news from a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at... More
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  • Interest Payments: End Of Fiscal Year 2012 0 comments
    Oct 8, 2012 4:07 PM

    Today marks the end of the fiscal year 2012 for the interest payments on U.S. debt of which I talked about here. It's surprising that the interest payments have dropped so much in 2012. Probably due to a change in the accounting method for the Department of Defense (NYSEARCA:DOD) market-based securities, we got a one-time $75 billion decrease in interest payments in the month of July. Otherwise we would have $435 billion in interest payments.

    So, in reality they paid $435 billion, but the reported number is only $360 billion. Just to make it look better.

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