Tuesday, April 19, 2011

Enron Writ Large - By Kevin D. Williamson


In FY2010, we spent $164 billion just on interest payments on the debt — up 18 percent from the year before. And that’s at historically low interest rates. If rates should go back up to their 1970s or 1980s levels, we could easily end up spending more on debt service than we spend today on big-ticket items like Medicare or national defense.

Posted via email from The Blue Pelican

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