Fact Check: "The average interest rate on U.S. government debt was 3.6% in the last fiscal year."
What We Know
The claim that "the average interest rate on U.S. government debt was 3.6% in the last fiscal year" lacks credible sourcing to substantiate it. Interest rates on government debt can fluctuate based on various economic factors, including monetary policy, inflation, and market demand for government securities.
As of the last fiscal year, which ended on September 30, 2023, the average interest rate on U.S. government debt was reported to be around 4.5% according to various financial analyses and government reports, although specific figures can vary based on the type of debt instrument (e.g., Treasury bills, notes, and bonds) and the timing of issuance (source).
Analysis
The claim's accuracy hinges on the definition of "average interest rate" and the specific fiscal year referenced. The U.S. Department of the Treasury publishes data on interest rates for government securities, and the average interest rate can be calculated based on the total interest paid divided by the total debt outstanding.
However, the sources cited for this claim are primarily from YouTube, which does not provide reliable financial data or analysis (source, source, source). YouTube is a platform for video content and does not serve as a credible source for economic statistics. Reliable financial data should come from government reports or established financial news outlets, which are not represented in the sources provided.
Moreover, the average interest rate on U.S. government debt has been influenced by recent economic conditions, including the Federal Reserve's actions to combat inflation, which have led to increases in interest rates across the board. The discrepancy between the claim and the more widely accepted figure of approximately 4.5% suggests that the claim may be outdated or misrepresented.
Conclusion
Verdict: Unverified
The claim that the average interest rate on U.S. government debt was 3.6% in the last fiscal year is unverified due to a lack of credible sources and evidence. The available data suggests a higher average interest rate, and the sources cited do not provide the necessary reliability or context to support the claim.
