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Debt

So, correct my numbers if they look wrong...

Earlier this year, the Bush administration announced they predicted a deficit of $475 Billion.

Today, they announced that they sought another $87 Billion for the war in Iraq and Afganistan.

Now, lets assume for a moment, that that $87 is part of the 'predicted' $475 Billion deficit.

Perusing http://www.publicdebt.treas.gov/opd/opdint.htm and the National Debt Clock ( http://www.brillig.com/debt_clock/ ) it looks like the interest rate on the debt for the last year has been about 4.6%

That means that the yearly interest that the US has to pay on the Debt will increase by $21.8 Billion. Of course, if interest rates increase, that may mean even more. This is a fee we will be paying EVERY YEAR until that principle is paid down.

Next year, the administration predicts an even larger deficit.

This means, in a year and a half from now, we'll have around $44 Billion less to spend on actually productive things, because we'll be paying down Debt with it.

Comments

( 5 comments — Leave a comment )
435
Sep. 7th, 2003 10:37 pm (UTC)
This is one of the reasons I liked Clinton. He worked to get the FedDef down.

Ba-oosh is following in his father's, and his father's old boss' footsteps and driving our deficit through the roof.
kairee
Sep. 7th, 2003 10:55 pm (UTC)
The Governor of California isn't the one that should be getting recalled...

'nuff said.
bluejaey
Sep. 9th, 2003 08:11 pm (UTC)
Rawr:
Makes me look forward toward a new and brighter future, eh?
syke
Sep. 19th, 2003 05:08 pm (UTC)
Personally, I'm a Bush supporter, but I am not supporting spending more money that we could use in other areas here. This is not something that SHOULD be shouldered by us.
anodracs
Sep. 22nd, 2003 07:15 am (UTC)
*Winces* Ouch, that's certainly a lot of debt but a very useful link. I'm frustrated, as well with the Nation's unscrupulous use of the peoples' money.
Hey, and you're the Belfrey webmaster? That is very cool. I'm used the site quite a few times to check out comics, and to find new favorites.
( 5 comments — Leave a comment )