All Commentary
Thursday, February 17, 2011

Interest Threatens to Swallow Federal Budget


“Interest payments on the national debt will quadruple in the next decade and every man, woman and child in the United States will be paying more than $2,500 a year to cover for the nation’s past profligacy, according to figures in President Obama’s new budget plan. Starting in 2014, net interest payments will surpass the amount spent on education, transportation, energy and all other discretionary programs outside defense.” (Washington Post)

Is default in our future?

FEE Timely Classic
“The Evil of Government Debt” by Sheldon Richman