$8,003,897,406,911.24 and Counting
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Just a quick note that one week ago today, the national debt exceeded eight trillion dollars for the first time ever.
Kind of puts this conversation in perspective, doesn't it?
And keep in mind that, even assuming a very conservative 4% interest rate, that's about $320 billion in interest -- $320 billion in federal taxes that buys nothing, builds nothing, employs no one, feeds no one, educates no one, houses no one, cures no one and defends no one from terrorism or even avian flu.
Remind me again why you're not all libertarians?
(Via Government Bytes.)
Kind of puts this conversation in perspective, doesn't it?
And keep in mind that, even assuming a very conservative 4% interest rate, that's about $320 billion in interest -- $320 billion in federal taxes that buys nothing, builds nothing, employs no one, feeds no one, educates no one, houses no one, cures no one and defends no one from terrorism or even avian flu.
Remind me again why you're not all libertarians?
(Via Government Bytes.)
Related Posts (on one page):
- Another Year, Another Raise of the Debt Ceiling
- Tax-and-Spend Republicans At It Again
- $8,003,897,406,911.24 and Counting
- IMF to U.S.: Raise Every Tax You Can
- Porkbusters
Posted by Kip on
25 October 2005
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