OBAMANOMICS: The US Is Now Spending 26% Of Available Tax Revenue To Pay Interest It doesn’t take a rocket scientist to figure out that an unsustainable debt burden soundly tolls the death knell of a nation’s economy, and its government. Unfortunately, it can sometimes take a rocket scientist to figure out what the real numbers are; governments have a vested interest in not being transparent about their debts and interest payments. Obligations are obligations, no matter who they’re owed to. Taking this into account, total US interest payments in Fiscal Year 2013 were a whopping $415 billion... This means they actually spent approximately 26% of their available tax revenue just to pay interest last year.. much higher than the 1868 Ottoman Empire at the end of its reign... zerohedge/news/2014-03-25/us-now-spending-26-available-tax-revenue-pay-interest
Posted on: Tue, 25 Mar 2014 23:18:57 +0000
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