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Obama Budget: Debt Payments to Exceed Defense Budget Within the Decade

theabnranger Wrote: Apr 07, 2012 3:12 PM
Smoke and mirrors to the ignorant. A feasible and necessary step for informed and rational people who care about liberty.

A perilous tipping point, via the Senate Republican Budget Committee and the Weekly Standard:

Under this president's unanimously-rejected 2013 budget, federal spending on national debt interest payments would surpass our total defense budget within seven years.  Furthermore, current federal revenue levels will cover only Medicare, Medicaid, Social Security, and debt financing by 2025, according to Obama's own...