Interest on the debt to double within ten years
When you’re driving and you see that you’re headed straight for a brick wall, what do you do?
If you’re normal, you slow down and change your direction of travel. But Washington, D.C., is anything but normal.
How does half a trillion dollars a year just in interest payments sound? For perspective, that’s about a third of the entire budget deficit for 2011.
And all of this assumes that interest rates will remain at their current historic lows, which they probably won’t.
Iceberg, dead ahead!
Ardently devoted to the cause of human freedom, he has worked at the confluence of politics, activism, and public policy for more than a decade. He co-wrote a ten-part series of video shorts on economics, and has film credits as a researcher on 11 political documentaries, including Citizens United's notorious film on Hillary Clinton that became the subject of a landmark Supreme Court decision. He is the founder of several activist endeavors, including AnyStreet.org (now a part of Western Free Press) and Liberatchik.com. He is currently the managing editor of and principal contributor to WesternFreePress.com.