Regarding the link I posted earlier from the BEA site on interest paid on US debt by sector from 2016 - 2023:
I wanted to analyze which components of interest paid on total US debt (public + private) are dominating in the ramp-up largely caused by rate increases. What I found was one specific area was over 50% of the interest increases.
Businesses are divided into categories Corporate, Sole Proprietorships, and Other Private Businesses. Corporate is divided into Financial and Non-Financial. Financial corporate interest is broken into deposits and other liabilities. The other liabilities category is over 50% of the total interest increase in 2023, increasing by $588B. Can someone tell me what is covered by this category?
BTW here are some key interest categories for 2021 - 2023 (in billions of dollars), with percentage increases listed from the previous year. Note nonfinancial corporate interest values are increasing by much smaller rates than financial.
Total interest paid
2021 2998.5
2022 3946.7 +31.6%
2023 5654.3 +43.3%
Domestic business
2021 1439.5
2022 2031.9 +41.2%
2023 3179.0 +56.5%
Corporate financial
2021 439.1
2022 862.2 +96.4%
2023 1735.5 +101.3%
Corporate financial - on deposits
2021 34.4
2022 96.8 +181.4%
2023 381.8 +294.6%
Corporate financial - on other liabilities
2021 404.6
2022 765.4 +89.2%
2023 1353.6 +76.8%
Corporate nonfinancial
2021 564.6
2022 642.4 +13.8%
2023 750.8 +16.9%
Federal government
2021 507.7
2022 694.9 +36.9%
2023 877.1 +26.2%
Households
2021 716.4
2022 810.6 +13.1%
2023 1025.8 +26.5%
