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Politics : The Castle
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To: Lazarus_Long who wrote (133)11/8/2002 8:36:23 AM
From: Neocon  Read Replies (1) of 7936
 
I do not have the current debt service figure, but I do have this:

Interest payments, primarily the result of previous budget deficits, averaged seven percent of Federal spending in the 1960s and 1970s and rose to a high of 15 percent in 1996. Since 1998, the budget has been in surplus. As a result, interest payments are estimated to drop to less than 10 percent of the budget in 2002.

whitehouse.gov

That is not an extraordinary amount of debt service. Consider that the average homeowner commits roughly 30% of his income to housing, then add car payments and credit card debt.......
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