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

Kirk Mac Wrote: Feb 06, 2013 6:35 AM
Lets see we take in less then we spend. Our GDP is flat, our credit ratting is about to be lowered and if our interest rate goes up were screwed. Our best hope is we come out of bankruptcy with out a third world war. This does not even deal with the unfunded liability's of SS,medi -care, meda-cade, or the state pensions the fed gov will bail out.
AZhot Wrote: Feb 06, 2013 9:14 AM
Let's see, history shows that the Marxists resort to murder on a mass scale in these cases. A few hundreds million murders here and there ought to solve the problem.
PaleoPatriot Wrote: Feb 06, 2013 9:55 AM
They will have to take our guns first.
ideaminer Wrote: Feb 06, 2013 3:02 PM
I'm afraid that might be their plan.
Pistol Wrote: Feb 06, 2013 7:08 AM
You're getting it, Kirk72, you're getting it. Another 40 or 50 million just like us, especially amongst the ranks of those who tally votes, and we have a chance to straiten up things in the next election.
CVN65 Wrote: Feb 06, 2013 10:34 AM
No. There is no chance to reverse this. Not when the GOP believes they have scored a victory in giving the Dems only half of what they wanted.

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...

Related Tags: Expense