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!