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To: FromTheSidelines

You left out debt servicing costs, which will soar to close to $1 trillion a year in ten years if/when interest rates return to their historical average. Everything will have to be cut in order to change the current trajectory of debt. Some very painful decisions are ahead. The longer we wait, the more painful the decisions.


105 posted on 07/24/2011 5:09:54 PM PDT by kabar
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To: kabar

Sure - we pay for that debt servicing with more debt, right now. Our taxes only cover Social Security, Medicare, Medicaid, and income security. Everything else - including debt service - is covered with more debt.


112 posted on 07/24/2011 7:17:10 PM PDT by FromTheSidelines ("everything that deceives, also enchants" - Plato)
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