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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (2650)	10/8/2003 8:26:12 AM
From: Dale Baker	Read Replies (1) \| Respond to of 51436

It's true that 4% interest on $500 billion is "only" $20 billion per year. But figure a $50,000 income pays $7500 in federal tax (just my guess) and that means 2.7 million households will be working just to pay the interest on next year's deficit. Quite stable but not very desirable - especially since much of that interest is going to China and Japan, who own more than a third of our bond debt now, so I hear. Maybe I lack perspective on the situation, but it looks like crap compared to the surplus we had not long ago.