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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (118080)	3/28/2009 10:58:16 PM
From: Skeeter Bug	Read Replies (1) of 132070

Knighty, national SAT it is. let's hope you are right - b/c the damage the government is doing to this nation by allowing the oligarchy to set up a massive casino and then bail them out of their losses will require an incredibly smart debt slave to to keep from falling further in debt. the current view is we will be $23 trillion in debt in 8 years... if you are right and interest rates hit 16%, that, $3.6 trillion in interest payments alone. total tax receipts for 2007 was $2.4 trillion. assuming revenues stay flat with 2007, which is doubtful given the bubble pop, that means the government has to borrow/print $1.2 trillion to pay the interest and then borrow/print 100% of its operating budget. since there will be very few fools left to lend us money, they will print. weimer republic part two?

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