Think you're smart about deficits? Try this
Deficits. Taxes. Spending. Could you help Washington find a way out of the nation's fiscal pickle? Take the CNNMoney debt quiz.
By Jeanne Sahadi, senior writer
Score so far:
5. What percent of the deficit projected for 2021 will be due to interest payments alone?
80%. A fairly fat sum. Interest owed will account for 80% -- or $931 billion -- of the $1.16 trillion projected deficit for that year, according to the CBO analysis of the president's budget proposal. That $931 billion, combined with the spending on Medicare, Medicaid and Social Security would eat up 89% of all federal tax receipts. So 89 cents of every tax dollar will be spoken for before lawmakers consider what to spend on everything else from education to infrastructure to defense.
Broke! Fixing America's fiscal crisis
Debt ceiling: FAQ
Everybody's talking about debt. No wonder: The country's tab is a whisker away from the current debt ceiling. (
Where our money will go in 2020
Unless we make big changes, 92% of U.S. tax revenue could go to just 4 things – leaving just a sliver to pay for everything else. (
Take the Social Security quiz
As policymakers and politicos argue about its fiscal condition, here's a quick test of what you know. (
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