Can we afford to service this debt?


As is the case with mortgages, it's not so much the amount of debt you carry but the interest rate you pay that determines whether national debt is affordable. Interest rates have fallen rapidly in the past two years, and the government issues a lot of short-term debt. Last week the Congressional Budget Office estimated that the government spent $228 billion on interest alone in Fiscal 2010. That's about what the government spent on debt service in Fiscal 2006, when the national debt was significantly smaller.

Affordable? Why in, good conscience, would anyone consider spending $228 billion on interest 'affordable'?

$228 billion of your tax money wasted, just thrown away, and you wonder why we can't afford healthcare? This has gone on for years and must stop.

Cash is power. Gold based standard is power. Mining for gold was down this year and must be stepped up.

We must have the power of a cash based Nation back.