The story covers the financing that the Government is getting that is "too good to be true". Fact is, it looks like it really is.
With the national debt now topping $12 trillion, the White House estimates that the government's tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher.
In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.
Money quote from the story (in my opinon) - "Clever debt management strategy," the group said, "can't completely substitute for prudent fiscal policy."
And this is the same organization that thinks they can take over health care and run it in the black. Yeah right...
OS
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