Interest cost on stimulus bill: $347 billion over 10 years

Rep. Paul Ryan (R-WI) asked the Congressional Budget Office to estimate just the debt service on the stimulus plan (H.R. 1), i.e., how much it would cost in interest. You can download the PDF with the reply at reason.com/blog/show/131301.html; the important part of it is below as well as Boehner calling it a "trillion dollar spending bill":

UPDATE: John Boehner weighs in (republicanleader.house.gov/News/DocumentSingle.aspx?DocumentID=109579):

It's official: the non-partisan Congressional Budget Office has confirmed that the congressional Democrats' legislation is the trillion dollar spending bill that we all feared it would be. It would be irresponsible to pass this massive debt onto our children and grandchildren, and Republicans will continue fighting for their interests - and the interests of all taxpayers.

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As you requested, the Congressional Budget Office has estimated the costs of additional debt service that would result from enacting H.R. 1, the American Recovery and Reinvestment Act of 2009. Such costs are not included in CBO’s cost estimates for individual pieces of legislation and are not counted for Congressional scorekeeping purposes for such legislation.

Under CBO’s current economic assumptions and assuming that none of the direct budgetary effects of H.R. 1 are offset by future legislation, CBO estimates that the government’s interest costs would increase by $0.7 billion in fiscal year 2009 and by a total of $347 billion over the 2009- 2019 period (see enclosed table).

(Billions of Dollars, by Fiscal Year)

	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2009-2019
Estimated increase in the deficit (before debt service)	169.5	356.0	173.9	48.5	25.3	23.9	11.0	0.1	1.3	2.9	3.4	815.9
Debt service	0.7	4.1	11.1	22.0	31.9	37.5	42.1	45.4	48.1	50.6	53.6	347.1

Tue, 01/27/2009 - 18:10 · · Importance: 9