In 2012 the US owed about 16 trillion in debt. The interest rate on the national debt is about 1 per year. How much interest does the US pay each year on its national debt?

If the US owed about $16 trillion in debt in 2012 and the interest rate on that debt was approximately 1% per year, the annual interest payment would be calculated as follows: 1% of $16 trillion equals $160 billion. Therefore, the US would pay about $160 billion in interest each year on its national debt.