Quote:
Originally Posted by Dan40
Along these lines,,,,
Heard some interesting numbers the other day. Right now we are paying 3.5% interest on our national debt. That is VERY low compared to history, with 6.5 being a more normal interest rate. Here are the fascinating IF's, IF interest rates rise to 6% in the next 3 years [nearly certain] AND if our national debt rises to the PROJECTED amount expected 3 years hence. The the amount paid to cover the interest WILL exceed the total TAKE of US personal income tax per year!
And still they spend!   |
That is all true. But there is one way to get rid of all of that pesky debt. You just cause massive inflation.
Nonetheless, Washington doesn't seem to have any fiscal discipline. Neither do their supporters.
