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To: Pknicker
Oops. :') I must have typed it in wrong, or copy/pasted it without the last zero. Interest on the debt has been the largest single expenditure in the federal budget throughout my lifetime, so this isn't really news. The apparent larger figures of DoD and welfare spending are not a single expenditure each. :')
Federal Budget

13 posted on 09/18/2011 2:55:05 PM PDT by SunkenCiv (It's never a bad time to FReep this link -- https://secure.freerepublic.com/donate/)
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To: SunkenCiv

And this interest on the debt is “NET INTEREST!”

Compare the total non-social security tax revenues to the outstanding debt for the country times a 10% interest rate.
Roughly $15 trillion X 10% = $1.5 trillion in interest vs $1.296 in Revenue !!! And that is “Interest vs Revenue”, not considering any other costs! We are gonners, especially under the current inflationary monetary policies.

(Per Wiki: During FY 2010, the federal government collected approximately $2.16 trillion in tax revenue and Social Security/Social Insurance taxes (40%) or $864 billion = net of $1.296 in Revenue)

Remember, Social Security is running a deficit and no longer is providing excess funds for the gov’t to borrow.

Now, try to sleep at night!


24 posted on 10/13/2011 6:33:45 AM PDT by tired&retired
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