Wednesday, March 9, 2011

Interest Not Yet Peaked

While growing his debt astronomic'ly,
Uncle Sam must prepare for ignominy;
As the bond int'rest cost,
Left unchecked, may exhaust
Ten percent of the US economy.  

Okay - not right away; however, the $200 billion annual interest cost on the federal debt, at current trends, could grow to 10% of US GDP by 2080, reports the Wall Street Journal.  That should be enough to focus everyone's attention on reducing the growth of Medicare, Medicaid, Social Security and defense spending.
Posted by Dr. Goose
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