Quote:
Originally Posted by rcooled
The current national debt of nearly $31 trillion probably seemed like an astronomical sum back in the early 2000s too, when it was less than a third of that amount.
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It seems to me that $31T
is an astronomical sum.
The $965 million spent every day on interest could be spent so much better (or returned to the taxpayer). A large deficit has become even less sustainable in light of the rapidly increasing interest rates. The higher rates will possibly cause this amount to double in the next year or so. Taxes will need to increase to pay...which will further hurt the economy/standard of living. What a waste...just to allow politicians to hand out other people's money to buy votes.
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