NATIONAL DEBT CHART FROM HELL

Interest on National Debt vs. Defense Spending

In a decade, interest on the national debt will exceed total federal spending on the defense budget by $125 billion, according to CBO.

Tweet

--

Washington's Spending Insanity Must Be Stopped

We're borrowing to pay interest on what 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.  In fact, the interest payments are likely to be even higher, since these assumptions are based on the historically low interest rates remaining the same, which is not likely over the course of the next decade.  "If interest rates rise just 1% point above baseline projections, the government would pay an additional $1 trillion in interest payments over ten years."

Overall, Obama's budget would increase federal spending 58% - from a budget size of $3.6 trillion today to $5.9 trillion in 2022.

Meanwhile the U.S. Debt Machine rolls on, borrowing $3 million per minute.

Comments

[Epinoia]

The actual numeric amount of the debt is irrelevant. It doesn't matter if it is 500 trillion dollars. What matters is the amount/percentage of the GDP that is necessary to service the interest on that debt.

When we say we have 16 trillion dollars of debt, one must ask: "But what is a dollar"? At one time, that question was simple: It's a specific amount of gold. Now, it's just imaginary. And since the dollar is backed up with absolutely NOTHING, it is 16 trillion of NOTHING.

Again -- to illustrate. If we suddenly woke up tomorrow, and everyone magically was earning tripple, and had tripple savings; yet everyone's debt trippled and prices also trippled -- we would be EXACTLY WHERE WE ARE NOW. These figures are all RELATIVE now that we're off the gold standard.

We need to be concerned about the % of the GDP we're spending to service the debt. We do NOT need to worry about the actual numbers themselves. This is just how economics works with fiat money. If this was $16 trillion of gold-backed debt, we would have something to worry about. But it's not. If it was only $1 trillion of debt BUT minimum wage was only $0.10 per hour, we would actually be deeper in debt than we are now, even though the debt LOOKS like it is 1/16th smaller.

These are just counters....worth no more than a poker chip is worth when you play a game of poker with your friends. YOU and YOUR FRIENDS determine the value of those chips -- they're not backed by anything any more than our dollars are.

[Drink and be merry]

Epinoia,

You are correct in your statement above. Maybe 20% percent of Americans realize this? That is the bigger issue.

[Anon]

The Central Bankers wish to give Americans, and people around the world, the impression, that the financial world is ending, just like those who tout the end of the Mayan Calendar, on 12/21/2012, as being the end of the world. In fact, the Central Bankers would like to give us all the impression, that the arrival of the 'fiscal cliff' is somehow the END OF THE WORLD! Be afraid! Be VERY AFRAID! Why? So, that when the hype hits a crescendo in the lame stream media - and by that time, maybe the 'global' economy HAS come to a grinding halt (since the Wall St. Banker-orchestrated Mortgage Lending "crisis" of 2007, and the subsequent 2008 TRILLION $$ Banker Bailouts) - then, they (the Bankers) will offer up their PRE-PLANNED "solution" of a 'global' currency, and the need for 'global governance', not just for the economy, but also for CENTRAL BANKER CREATED 'AGW', etc.

BTW, if you still believe in 'AGW' (man-made 'global warming') - I have news for you. The "elites" concocted 'global warming' decades ago, for the SAME REASON, as they orchestrated the current 'global' financial depression - to bring about ONE WORLD GOVERNMENT (via the U.N.).

Club of Rome Report, 1993 - Global Warming Quotation [Pause video at 1:12, and READ!]
https://www.youtube.com/watch?v=_AqEFQcCF1c

They plan everything they do, decades in advance.

[LadyLiberty]

'Welfare Spending Equates to $168 Per Day for Every Household in Poverty'

http://www.weeklystandard.com/blogs/welfare-spending-equates-168-day-every-household-poverty_665160.html

Why America Is Going To Miss The Bush Tax Cuts

http://www.forbes.com/sites/peterferrara/2012/12/06/why-america-is-going-to-miss-the-bush-tax-cuts/

Tax Payers With Income of Only $30,000 Face Annual Tax Hikes of $1,500

http://www.economicpolicyjournal.com/2012/12/tax-payers-with-income-of-only-30000.html

Consumer Confidence Plunges Over the Cliff

http://wallstcheatsheet.com/stocks/consumer-confidence-plunges-over-the-cliff.html/

Personally I would like to see the interest rates rise it would slow the spending.

Cure for Economic Slumps Seen in Raising Rates: Cutting Research

http://www.bloomberg.com/news/2012-11-23/cure-for-economic-slumps-seen-in-raising-rates-cutting-research.html


Agree Anon look what Merck has to say and it's just a matter of time that has been the plan for decades they are trying to acclimate people to it so when they try to put it a global government in place they meet with less resistance.

Dollar Cliff?

snip

Countries might be better served preparing their economies for a world where the dollar is no longer the only game in town, rather than deploying billions to provide the illusion of a world order that we believe won't come back.

in full http://www.financialsense.com/contributors/axel-merk/dollar-cliff

Treasuries Doomsday Is Four Years Away for Vanguard

snip

Vanguard Group Inc., whose $148.2 billion of Treasuries makes it the largest private owner of U.S. debt, says the nation has until 2016 to contain its borrowings before bond investors revolt and drive up interest rates.

http://www.bloomberg.com/news/2012-07-16/treasuries-doomsday-is-four-years-away-for-vanguard.html


It's Not Just That Global Warming Is Fake. What Matters Is Why This Fakery Is Being Promoted.

http://www.garynorth.com/public/5156.cfm

[Robert]

That's just it. We are NOT off the gold standard. Nixon made settling FORIEGN accounts in fed notes only, he had NO POWER to take the States of the Union off the gold standard except via constitutional amendment. If we are off the gold standard, please inform the US Mint as they continually mint gold eagles of the United States of America.

As a matter of fact, you have the right to demand payment in gold eagles minted by the US mint at face value ($50.00 per coin). The price of gold hasn't changed, but the value of what you are measuring it by has, Federal Reserve Notes. 50 dollars of gold is still 50 dollars of gold. 50 dollars of Federal Reserve Notes is the promise to redeem in lawful money, and are legally defined as "obligations of the United States" (not of America).

J.P. Morgan was asked "What is money?" He didn't answer right away. He thought a moment and then said, "Gold and Silver is money, everything else is credit." Federal Reserve Notes ARE NOT MONEY, they ARE CREDIT, and they are DEFINED LEGALLY as such.

[SKINFLINT]

Why in the name of all that is good should this scoundrel have any say whatsoever in regards any U.S. position in any arena ever. http://www.france24.com/en/20121207-lagarde-says-fiscal-cliff-threatens-us-supremacy

[john]

Skin, You may want to look at these: The IMF is hell bent on CARBON.

http://www.imf.org/external/Pubs/FT/books/2012/climate/climate.pdf

http://www.smh.com.au/opinion/political-news/imf-backs-carbon-price-20120618-20k9k.html

http://www.carbon350.co.uk/2012/06/13/head-of-imf-carbon-price-central-to-economic-stability/

[john]

Furthermore:

http://www.youtube.com/watch?v=_Ulo24yBk3E

[SKINFLINT]

Disclaimer: The views expressed herein are those of the authors and should not be reported as or
attributed to the International Monetary Fund, its Executive Board, or the governments of any of its
member countries. Well, I guess the IMF should shut the fuck up then. Damn it.

[SKINFLINT]

Tax and similar pricing instruments have a crucial role to play in this area.
We need to understand both their environmental effectiveness and their
impacts on competitiveness, different household groups, and overall fiscal
positions.
This volume seeks to provide policymakers with practical guidelines for
the design and implementation of climate mitigation policies. The premise
at its heart is that fiscal instruments—carbon taxes or their cap-andtrade
equivalents (with auctioned allowances)—can and should form the
centerpiece of policies to reduce energy-related carbon dioxide emissions
(which account for about 70 percent of projected GHG emissions). These
pricing policies can also become a large new source of government revenue,
which could make a significant contribution to meeting fiscal consolidation
challenges and, more generally, to building more efficient and fairer tax Holy Shit. Here I thought I was having a good weekend , but apparently I was mistaken.

[SKINFLINT]

The previous two entries are from John's post from earlier. The foul mouthed expletives can be solely attributed to my obviously low brow sense of the local dialect.

[mike]

Interest clocks so rapidly on the debt now that America can never stop it's perverse level of spending! Unless of course congress got smart and voted out the fed on grounds of being the organized criminal cartel it truly is!

[S. Gompers]

More proof of a long term plan to create a third world paradise.

[TR]

http://www.ipsnews.net/2013/03/climate-change-now-seen-as-security-threat-worldwide/

[DailyBail]

Ex-Obama Budget Director Peter Orszag: Democrats Also Deserve Blame For Austerity Pressure

"I think the Democrats who are opposed to any longer-term entitlement reform, which would have the advantage of being phased in gradually, are doing the labor market no benefit," Orszag told Business Insider. "By not scratching the itch on some kind of deficit reduction over the long term, they're creating more pressure for austerity in 2013 in the legislative process, which is not good."

http://www.huffingtonpost.com/2013/03/20/peter-orszag-democrats_n_2915835.html

[Dobie Gillis]

Not cause of anything a market progressive
ever said or did.

Any government program conforming to
oligarchy will benefit the oligarchs
(monopolists.)

[Really?]

What is on the other side of the balance sheet?

What is the value of the assets of the U.S. government?

If the scum who control the information flow keep this information from even being discussed, what else are they doing in the dark?

[Billy Derka]

If 'Fiat Money is Created out of nothing' why do we have to pay interest on nothing? Kill the Fed, stop fractional reserve banking, issue United States Notes period. Talking about the debt is like talking about 'debt' is like talking about 'South Park,' it is all a joke.

[Uncle B]

Nixon took Gold out of the loop, left Oil in the loop - today's U.S. Petro dollar the sole reason the currency has validity - and undermining that validity are petroleum products traded in Yuan in Siberia today. The big change on the horizon for the U.S. "Petro Dollar", is the Chinese Thorium technologies (see U tube videos) debut~2017. Even the Chreos car (Google, read comments) will cause monumental change - Thorium technologies expected to "Alter Global Energy Maps Forever" Bill Gates' Chinese company works furiously to perfect, improve and refine "neutron guns" to initiate and control fission processes using thorium, as we speak. Oil to become a secondary fuel to this new clean, easy to transport, non-flammable, safe fuel, a cheaper - much cheaper energy form. Timeline ~ decades in the Pan Eurasian regions at least. Astoundingly cheap, and the "reactors" mass producible, scalable as well. oil was the 'money" of the 20th Century ~ Thorium Energy the money of the 21st Century.

[didsomeonehackmaxkeiser]

The 0 interest income on savings
for 5 years, the benchmarking of
saving/investment to real neg r's
so the TBTF banks can have free
reserves in lieu of loss-taking, the
$trillions in buying toxic assets not
at market value and loss sharing and
mtge mod's really for the banks' sake,
and the paying more for less for one
monopoly after another (ObamaCare
replaces now you see it now you don't
coverage with monopoly) and the wars
and spying instead of removing half
the refineries and storage tanks
cost $trillions, with the monopolists
encouraging, if not sometimes deliberately
creating, adversity so as to invest in same.

Educate instead of incarcerate.

The bailout has involved $trillions, with
a lot of it undoubtedly no longer even in
the U.S.

And the re-making of the bubble for the sake
of still bailing the TBTF banks (which is
currency as monopoly) will now make not the
next 2 generations pay for the current one,
but the 2 following those.

The opposite of adversity created and profited
from and compensated for is legitimate markets
adjusted as needed for rich public education
enabling high wages and a strong currency
reflecting a people's high worth.

[RGray]

Bar graph at beginning of article was "calculated" by Jeff Sessions Republican staff. What could possibly be wrong with that???