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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:

Jobs Report – U6 Rate Holds at 14.4%, Actual Employment Falls to 58.6%

UPDATE – Blink! U.S. Debt Just Grew by $11 Trillion


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