only interest on the US National debt will reach 1 trillion a year by 2020. This means that half of the revenues of Federal government will go to pay interest on existing debt
Posted on | September 14, 2013 | 1 Comment
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National Debt Interest Payments Dwarf Other Government Spending …
www.usnews.com › NewsNov 19, 2012 – Taxpayers spend $220 billion per year on the national debt’s interest —far more than on education or food stamps.
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One Response to “only interest on the US National debt will reach 1 trillion a year by 2020. This means that half of the revenues of Federal government will go to pay interest on existing debt”
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September 14th, 2013 @ 7:21 pm
If the government hadn’t violated the supreme law, we wouldn’t be in this debt. The federal reserve is the cause of personal income tax, it creates money out of nothing (interest) and is an illegal entity that needs to go.