12.11.2009

$4.8 Trillion -- In Interest!!

More than HALF of the $9 trillion in debt that Uncle Sam is expected to build up over the next decade will be interest.

HALF!!

$4.8 trillion!! That's trillion with a "T".

In 2015 alone, the estimated interest due - $533 billion - is equal to a third of the federal income taxes expected to be paid that year, said Charles Konigsberg, chief budget counsel of the Concord Coalition, a deficit watchdog group.

From: http://money.cnn.com/2009/11/19/news/economy/debt_interest/index.htm

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