Also off-limits is interest on U.S. debt. After declining from 1998 through 2003, payments to creditors here and abroad jumped a near-record 14.2% in 2005, CBO reported. They are now 8% of all spending -- roughly half the size of all domestic discretionary spending, or more than the entire budgets of the departments of Agriculture, Education, Energy, Homeland Security, Health and Human Services, Interior, Justice and Labor combined.Are those in debt eventually slaves to their creditors? Something to think about.
Tuesday, January 24, 2006
Interest on the National Debt Grows
The Wall Street Journal reports on George Bush the big spender and has this interesting tidbit: