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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (361197)12/3/2007 1:37:32 PM
From: Road Walker  Read Replies (1) of 1577025
 
So you don't think the debt is a problem?

But the interest payments keep compounding, and could in time squeeze out most other government spending — leading to sharply higher taxes or a cut in basic services like Social Security and other government benefit programs. Or all of the above.

A major economic slowdown, as some economists suggest may be looming, could hasten the day of reckoning.

The national debt — the total accumulation of annual budget deficits — is up from $5.7 trillion when President Bush took office in January 2001 and it will top $10 trillion sometime right before or right after he leaves in January 2009.
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