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Uh, Obama? We Have a Problem: Interest Expense to Hit $1 Trillion in 4 Years

ideaminer Wrote: Feb 06, 2013 2:04 PM
If inflation gets to double-digits, your best defense may be self-sufficiency. Actually, I should say "when inflation gets to double-digits" because if we stay on our current course, that's where we're headed. And, I don't see any sign that we're chaning course.

I hate to interrupt Obama’s “We Don’t Have a Spending Problem” World Tour. But reality intervened on Tuesday as the Congressional Budget Office released a report that says that the budget deficit will grow through 2023 and “will eventually require the government to raise taxes, reduce benefits and services, or undertake some combination of those two actions,” reports CBSNews- and all of that just to cover interest payments.

“In its annual Budget and Economic Outlook,” writes CBSNews, “the CBO said debt held by the public will be bigger by 2023 than in any year since...

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