CHART: Interest On National Debt Vs. Defense Spending
Washington’s Spending Insanity Must Be Stopped
We’re borrowing money to pay interest on money we’ve already borrowed.
In a decade, federal spending to pay for the interest on America’s debt will exceed total spending on the defense budget by $125 billion, or 20 percent, according to CBO.
A fiscal cliff drop in the bucket.
CHART – CBO Projection Of Federal Spending 2002 – 2022.
Just a quick chart to demonstrate that the fiscal cliff deal on taxes means essentially nothingin the grand scheme of future federal spending. Chart is from the following story: