Monday, August 02, 2004

Debt financing

The debt had yet to reach its first $1 trillion when Jimmy Carter left office in 1980. It tripled under Ronald Reagan, hit $4 trillion before George H.W. Bush left office, $5.6 trillion when Bill Clinton left, and has now passed the $7 trillion mark. Servicing that debt - paying the interest that the government must provide to lenders - takes one-fifth of your taxes. But you ain't seen nuthin' yet.
  Des Moines Register article

If you do that personally, you're considered irresponsible and a bad credit risk.

Those lenders are happy, though.

....hey, do what you want....you will anyway.

P.S.
If you started right now and spent 24/7 counting to 7 trillion, you'd never make it. It would take about 70,000 years.


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