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debt R us

MSNBC reports that “With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically……. In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.”

Uncle Sam is underwater.

posted by Mudd

Posted in Uncategorized.

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By stiles – November 23, 2009

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