More Future Tax Dollars Will Go to Pay Off Old Bills and Promises

foxnews.com ^ | April 13, 2010 | Jim Angle

[Dubya-M-DeesWent2SyriaStupid!]

Taxpayers have a nasty surprise coming. More and more future tax dollars will go to pay off old bills and old promises the federal government made, but couldn’t pay.

The money borrowed by the federal government will result in a national debt of some $20 trillion by the end of this decade and taxpayers will have to pay almost $1 trillion a year, just in interest.

The chaos and danger of such a predicament is evident in Greece, which is so deep in debt - its economy is in chaos with national strikes, violent street protests and pensions on the verge of collapse - all because Greece owes so much money abroad. The country is now forced to beg for even more loans at higher interest rates just to stay afloat.

Some worry the U.S. is headed down the same dangerous path. Bob Greenstein of the liberal leaning Center on Budget and Policy Priorities says, "our economy is much stronger, our financial system is much stronger, but you know even if we experienced...a fraction of the problem of Greece's, it would really be a very painful experience for us."

[avacado]

As long as freeloading is a ‘right’ we are headed straight down that hole never to return.

[AngelesCrestHighway]

Presidential contrasts are a good thing to see.....

[FrankR]

If we have to pay them we have to pay them, but at least make the Government GTF out of the way and put the private sector in gear so we can raise the money to do it..

Obama and the government are the problem, not the solution.

[AngelesCrestHighway]

I must congratulate you!.....best Obama quip I have seen...”All hat...no cattle” Great bumper sticker!

[KansasGirl]

Thank a liberal today! /sarc

[Oldpuppymax]

Translation: the Hussein agenda is right on track. He would dearly LOVE to create panic in the streets, empty shelves at Walmart, hyper-inflation, black and Mexican gangs on looting, raping and killing sprees throughout the nation...in short, a mass plea for HELP from Big Brother.

[FrankR]

Thanks...I worked very hard on it...LOL

[GailA]

btt

[Puddleglum]

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