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

Unrealistic Wrote: Feb 06, 2013 9:33 AM

When I think about our election process it occurs to me those who profit most is the media industry. I wonder how things would look if there were no gvmnt funding for campaigns and any advertising would have to be equal time as public service announcements or debates. I wonder how things would look if the campaign cycle were kept to 90 days.

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

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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