What percent of Federal taxes go to paying off the interest on our national debt?

Question

what happens when we can't pay it anymore?

Answer 1

About 25%.

The budget is $2,100 billions, and $400b is interest.

Answer 2

1. Based on information here http://en.wikipedia.org/wiki/United_Stat...  

9% of the Federal outlay is spent on interest payments.



2.  We would go bankrupt as a political entity and start over. Interest rates would shoot through the roof and fiscal hardship would force the government to either print more money, which would cause inflation to go sky high,  OR  the government would suddenly see the light and stop borrowing money and concentrate on paying off the current account.