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Friday, March 9, 2012

Washington's $5 trillion interest bill

Ouch!  US interest expense over the next 10 years is projected at $5 TRILLION dollars.

Uncle Sam will shell out more than $5 trillion in interest payments over the next decade, according to the latest projections from the Congressional Budget Office. That's more than half of the projected $11 trillion increase in debt held by the public during that period...Over the decade, more than 14% of all revenue the government is projected to collect will be sucked up by interest payments.
Read the rest here 

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