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

olddog39 Wrote: Feb 06, 2013 5:52 AM
All CBO numbers are based on numbers provided by Congress. Therefore -garbage in, garbage out!. Why do we ever believe any of it?

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