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Wednesday, October 16, 2013

Looks like we "Lost the good fight" again

Someone give Boehner another box of Kleenex. What difference is the federal debt anyway? I feel secure in saying that the average Obama voter would be no more concerned with a 170 trillion dollar Federal debt than they would with a 17 trillion dollar debt. To be honest, a large percentage of them could not tell you which was larger, a billion or a trillion or a Brazillian. I think it is fair to estimate that the federal debt should be around 30 trillion in 2024, at the end of Hillary's 8 years in office. I think it is also fair to say that, due to the condition of the "Faith and Credit" of our government by then, the interest rates we will have to pay on our debt could be around 6%.That would put the annual interest payments on our debt at around 1.8 trillion dollars. That is greater that 10 % of our current GPD and it's anyone's guess what our GDP will be in 2024. That amount is also roughly 8 times more than the 220 billion per year that we pay now for the interest payments on the current federal debt. Our founding fathers knew there was no guarantee that the people could keep this constitutional republic intact. It was up to the character of the people. Elections have consequences. I guess we deserve what we get.

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