Motley Moose – Archive

Since 2008 – Progress Through Politics

Interest on the national debt will eat up most of the federal budget by 2010

“Now might be a good time to crack open your neighbor’s skull and feast upon the goo inside.”

You heard it right folks! MSNBC has the story. Seems like that two trillion in new debt, on top of the eight or nine trillion already existing, comes at a hefty price:

But about 40 percent of the debt held by private investors will mature in a year or less, according to Treasury officials. When those loans come due, the Treasury will have to borrow more money to repay them, even as it launches perhaps the most aggressive expansion of U.S. debt in modern history.

Forty percent? FORTY PERCENT?!?!? Jesus H. Tapdancing Christ on a Pogo Stick! By my calculations, that’s something akin to 25-33% of every tax dollar goes to simply repaying that interest. Good God, why didn’t we just fund the bailout through American Express?

Someone remind me why it is we haven’t risen up as one to smite these assholes?

Serious government spending on public works and infrastructure projects is what’s required in times like this. Problem is, during the good times, the Republicans’ guiding philosophy has been “CUT TAXES!” and “Kill brown people!” instead of “Direct the surplus towards repaying the debt!”

Thanks again, Gee Dubya. What would we ever have done with all that extra money anyway?


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