Epistemic Ingemination

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Tue, 20 Sep 2005

Andrew Tobias gives us a little sanity check to chew on:

At $8 trillion now, our National Debt - accumulated since 1776 - will have reached $10 trillion or so by the time President Bush leaves office. Of this, roughly $8 trillion will have been racked up under just three presidents: Ronald Reagan, George Bush, and George Bush.
In the fiscal year just ending this month, taxpayers will have paid roughly $350 billion in interest on the debt. That will rise as the debt rises even if interest rates stay low. If they rise, the burden only grows heavier. It's not hard to imagine an annual interest expense north of half a trillion dollars by the time the current Republican Administration, with the help of the Republican Congress, are finished weakening our finances and increasing our indebtedness to foreign powers.
Note that these are the same Republicans who - until they took total control of the government - were demanding a "balanced budget" amendment. With that long forgotten, they now propose to strengthen America by banning flag burning and gay marriage.
They are nothing if not adaptable.

Posted at 12:45 by Randy Kirchhof [Permalink] [Reload all] [E-mail]