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.

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