Listening
Gold Member
- Aug 27, 2011
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What happens to the interest payments on the debt when the debt gets to the level that Bush left it at, dumbass?
Gee, wouldn't we need interest rates to do that ?
Carter left us with interest rates of ? And Bush left President Obama with interest rates of ?
Perhaps more readin' and less postin' would help you out. When you are done with these links, kindly sum them up in crayon and pass them to daveman.
National Debt FAQ
National debt interest rates will take big chunk from budget - Feb. 2, 2011
Government - Interest Expense on the Debt Outstanding
As obscure as this seems, it is actually extremely important. The chief reason that our deficit fell so dramatically in the late '90s is that we replaced a lot of old, very high-interest debt from the '70s and early '80s, with much lower interest debt. Even though the amount of debt was still increasing, the overall interest payments were reduced. We're still retiring some of that high-interest debt, but there's a lot less of it than there once was. When it's gone, our interest payments will begin to rise, reflecting the rising interest we are paying on new debt. When that happens, the deficit will rise even faster than it has been rising
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Hey thanks.