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

loadstar Wrote: Feb 06, 2013 6:58 AM
What SO FEW think about is that the Fed has been artificially suppressing interest rates for many years...otherwise, we could have a CRIPPLING interest cost. I had been a banker for 25 years until 2000...I never saw such low rates during that quarter century. Bernanke KNOWS that normalizing rates would KILL the U.S. economy and rock guvment just in servicing the debt (paying the interest expense)...interest carry ALONE could easily double or triple otherwise.
loadstar Wrote: Feb 06, 2013 7:11 AM
Sorry...I should have read Mr. Ransom's column first...he also addresses the danger of interest carry alone...but a little "superfluous redundancy" can be a good thing to emphasize an important point! :)

Furthermore, it is stunning that some on the Left shout for EVEN BIGGER guvment and guvment spending when the ObaMessiah has increased the latter by 1/3 to a staggering, mind-blowing 24% of the economy.

That nostrum Rx from the Left is like saying the junkie needs an extra-strong herione "fix"!

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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