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Politics : The Castle

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To: Neocon who wrote (419)	11/13/2002 8:48:04 PM
From: Tom C	Read Replies (1) of 7936

Charge Cards - minimum required payments only. The debt ratio for the federal government is less than 20%. Therein lies the problem. In the past twenty years has the government ever made a payment to the debt that was greater than the minimum required payment? Even a credit card minimum payment requires some payment of principal. Everyone knows that if you stop using the card and make only minimum payments it will take a zillion years to pay off but eventually you will pay it off. If you make minimum payments and continue to use the card that's not good. Making interest only payments while still using the card is even worse. You are suggesting that 20% is not out of line but what you are showing in this example is that in addition to all the other debt, a full 20% of our taxes go to debt service with no payment towards the principal.

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