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It's only part of the picture to talk about year-to-year deficits. The Federal debt is in the $7 trillion range, Each $200-400 billion deficit year increases the overall debt and the debt service. As of 2003, interest on the Federal debt was approximately $320 billion a year. 42% of that money is paid to foreign investors...
Add to that a massive and increasing trade deficit -- $549 billion in 2003.
No wonder some have predicted a financial crisis for the US within the next few years.
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techweenie | techweenie.com
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