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http://www.chicagotribune.com/news/n...,6071187.story
hmm let me see if I get this right
Bush started with a federal debt of approximately 5 trillion and took it over 11 trillion when he left.
Obama is raising that 1.75 trillion this year, and adding another 3 trillion up until 2013. You have to scroll down to the last paragraph here to read this (funny how they never put this at the top)... here it is:
"For 2010, when the administration is forecasting the deficit will decline to $1.17 trillion, the administration is forecasting that the rebounding economy will boost revenues by 8.9 percent. Based on the stronger growth, the administration is forecasting steadily declining deficits in coming years with the deficit dropping to $912 billion in 2011, $581 billion in 2012 and $533 billion in 2013"
so we come out with about 16 or 17 trillion in 2013 and lets say that interest rates go back up to 6 percent (historical average?) - so we are now talking about almost 1 trillion a year interest payments on the debt - Yikes!!!
and that is if Rosie comes through?
we are in very big trouble
hmm let me see if I get this right
Bush started with a federal debt of approximately 5 trillion and took it over 11 trillion when he left.
Obama is raising that 1.75 trillion this year, and adding another 3 trillion up until 2013. You have to scroll down to the last paragraph here to read this (funny how they never put this at the top)... here it is:
"For 2010, when the administration is forecasting the deficit will decline to $1.17 trillion, the administration is forecasting that the rebounding economy will boost revenues by 8.9 percent. Based on the stronger growth, the administration is forecasting steadily declining deficits in coming years with the deficit dropping to $912 billion in 2011, $581 billion in 2012 and $533 billion in 2013"
so we come out with about 16 or 17 trillion in 2013 and lets say that interest rates go back up to 6 percent (historical average?) - so we are now talking about almost 1 trillion a year interest payments on the debt - Yikes!!!
and that is if Rosie comes through?
we are in very big trouble
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