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

OscarL Wrote: Feb 06, 2013 2:08 PM
You can run from the truth, you can hide from the truth but eventually it will run you down and beat you over the head. The truth is funny that way. Lets just hope it's not to late.

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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