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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (44836)	11/5/2005 10:07:15 PM
From: Sunny Jim	Read Replies (1) of 110194

<Once the system is unable to service the interest on that debt the whole ponzi scheme blows up> One could make the argument that we are already there at the Federal level. The interest on the debt is $352 billion for 2005, which is about the amount of the deficit. In other words, the Federal budget is not able to cover the interest payments on the debt. Granted, the Bush administration would like us to believe that it is a temporary problem and that they will cut the deficit in half, but the fact is, at the present time, we are unable to cover interest on the debt. Period! Under any circumstances, we're a lonnng way from paying down any debt, and the FORCE is not with us. publicdebt.treas.gov

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