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NEW YORK (CNNMoney.com) -- Here's a new way to think about the U.S. government's epic borrowing: More than half of the $9 trillion in debt that Uncle Sam is expected to build up over the next decade will be interest.
More than half. In fact, $4.8 trillion.
A Treasury borrowing advisory committee reported in early November that "approximately 40 percent of the debt will need to be refinanced in less than one year."
Thanks to that $4 trillion dollar budget of obama's and his failed stimulus.
Thanks to that $4 trillion dollar budget of obama's and his failed stimulus.
Obama's? Yeah, thank goodness the books were in order when Baby Georgie left. Of course I guess the reckless spending of the American public had nothing to do with all this happening in the first place. Oh yeah, and thanks for the wars Baby George. Seems like you wrote some pretty big checks while you were packing your things out of that pretty white house. Dang it, if only we could of gotten McCain and Palin in there, why she could've fixed everything the red camp screwed up just off that book deal and those pretty pictures she posed for. Well, guess it'll just be easier to blame the ol' Obama for this whole mess, cause CNN knows what the heck they're talking about. Why Anderson Cooper must've suggested some way of fixin' this, he knows everything. Kinda like all the other finger pointers out there saying "told you so"! Pretty easy to point out a problem and not lift a finger to fix it. That's all American media is good at.
If you want to fire up the economy in our country, get your butt out of the box stores and buy local American made products. Makes sense to keep the money here, in America, where it helps rebuild our infrastructure by providing local jobs and services. Local jobs means more money being spent locally. Had we done this in the first place neither Bush or Obama would've had to pump false money into the economy. Our number one export must be jobs and in return we import debt. If we can't do this at a grass roots level and help ourselves, who do you think is going to help us?
Scary and incomprehensible numbers. That's what we'll be paying - HALF in interest. That's what we can expect from obama's reckless spending.
A laughable endorsement of projected and modeled data, considering the automatic contempt and disdain for exactly such things that we see when the results don't happen to comport well with the unrecognizably distorted view of the world that those knee-jerk right-wing glasses impose.
A laughable endorsement of projected and modeled data, considering the automatic contempt and disdain for exactly such things that we see when the results don't happen to comport well with the unrecognizably distorted view of the world that those knee-jerk right-wing glasses impose.
Ahh, the story is from CNN.. Are you now calling them right wing also? Man, your own little world keeps getting smaller doesnt it?
Whats so scarry about that? Dont like paying that much in interest, dont take out a $200K loan..
Who said anything about liking anything?
I'm questioning sanrene's math and accounting skills, not the desirability of borrowing money.
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