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Re: US National Debt Tops $22 Trillion 

By: Decomposed in POPE 5 | Recommend this post (2)
Wed, 13 Feb 19 5:47 PM | 58 view(s)
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Msg. 24414 of 62138
(This msg. is a reply to 24346 by capt_nemo)

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Nemo:

Re: "Total US debt has now risen by over $2 trillion since Trump took office... but notably slower than Obama's pace of borrowing..."
Interest on the debt is now nearly as big an annual expenditure as Medicare. The charts below show how quickly the interest is growing - taking up nearly a full percent more of the 2018 budget as it did in 2017. Moreover, as the debt mounts, the rate of growth of the interest accelerates.

At this point, interest growth as a percent of total federal spending will be experienced every year until it breaks the bank and destroys the country. There is no acceptable way of avoiding this. The acceleration issue means that it will happen relatively soon. I think we will all be here to see it happen.


The numbers for 2018 in the chart on the left are illegible. However, they are:
GREEN (Net Interest): 7.6% - $316
ORANGE (Nondefense Discretionary): 15.9% - $658
BLUE (Defense Discretionary): 15.0% - $622
RED (Mandatory): 61.5% - $2,546




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The above is a reply to the following message:
US National Debt Tops $22 Trillion
By: capt_nemo
in POPE 5
Wed, 13 Feb 19 5:44 AM
Msg. 24346 of 62138

Total US debt has now risen by over $2 trillion since Trump took office... but notably slower than Obama's pace of borrowing...

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http://www.zerohedge.com/news/2019-02-12/us-national-debt-tops-22-trillion


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