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Politics : View from the Center and Left
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To: JohnM who wrote (125440)11/23/2009 5:45:41 PM
From: Steve Lokness  Read Replies (1) of 542214
 
John:

Krugman needs to think about the article is is talking about. From that article;

In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.

The additional obligation - not the obligation to our already massive debt - but just the INCREASED obligation in ten years is more than we now spend on education, energy, homeland security and the two wars. That according to the White House and they admit the number might be low. Just the interest! Not the interest that Krugman wants us to obligate to just the interest Obama is racking up.

And this;

With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher.

How Paul do we pay this down? HOW!

Think of this John - think of all the creative and constructive things we could do with that money. That's not the debt - that's the INTEREST on the debt so it goes on forever. Gold is telling us a lot and Krugman of all people should listen.

steve
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