Tndeer Logo

Page 1 of 1 1
Topic Options
#2934016 - 09/06/12 10:13 AM The REAL fiscal cliff
FLTENNHUNTER1
16 Point


Registered: 11/21/07
Posts: 15984
Loc: Tampa FL

Offline
http://www.washingtontimes.com/news/2012/sep/3/the-real-fiscal-cliff/



The current national debt is about $16 trillion. This is just the funded portion ó the unfunded liabilities of the Treasury, such as Social Security and Medicare, and off-budget items, such as guaranteed mortgages and student loans, loom much larger. Our recent era of unprecedented fiscal irresponsibility means we are throwing an additional $1 trillion or more on the pile every year. The only reason this staggering debt load hasnít crushed us already is that the Treasury has been able to service it through historically low interest rates (now below 2 percent). These easy terms keep debt-service payments to a relatively manageable $300 billion per year.

On the current trajectory, the national debt likely will hit $20 trillion in a few years. If, by that time, interest rates were to return to 5 percent (a low rate by postwar standards) interest payments on the debt could run around $1 trillion per year. Such a sum would represent almost 40 percent of total current federal revenues and likely would constitute the single largest line item in the federal budget. A balance sheet so constructed would create an immediate fiscal crisis in the United States.

Read more: SCHIFF: The real fiscal cliff - Washington Times http://www.washingtontimes.com/news/2012/sep/3/the-real-fiscal-cliff/#ixzz25heardIw
Follow us: @washtimes on Twitter


Prepare now, there is no escape. Everyone WILL be effected by this.
_________________________
The Second Amendment - George Washington didn't use free speech to defeat the British, he shot them.
"If there must be trouble, let it be in my day, that my child may have peace." - Thomas Paine





Top
#2934053 - 09/06/12 10:49 AM Re: The REAL fiscal cliff [Re: FLTENNHUNTER1]
Still-n-Quiet
10 Point


Registered: 07/18/06
Posts: 4824
Loc: San Antonio, TX

Offline
A common household would have sought bankruptcy by now!
_________________________
Mike

Searching for the elusive "Moderate" liberal and "Moderate" Muslim. Maybe they are hiding together...

Μολων λαβε

Top
Page 1 of 1 1


Moderator:  Crappie Luck, Tennessee Todd, RUGER, Unicam, stretch, Cuttin Caller, Bobby G, Kimber45 
Hop to:
Top Posters
4104925
RUGER
86364
Deer Assassin
64856
BSK
60557
Crappie Luck
51375
spitndrum
Newest Members
AdamMcK, purrpplee, tnduckhunter, draw2drop, Oh Deer
13113 Registered Users
Who's Online
121 registered (killerford, 8kler, fullstream, JACO0334, Ahuntin1, sgtwebb1, 16 invisible) and 137 anonymous users online.
Forum Stats
13113 Members
42 Forums
89422 Topics
1045815 Posts

Max Online: 788 @ 11/11/13 08:06 PM
Moon Phase
CURRENT MOON
August
Su M Tu W Th F Sa
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31
Forum Donations
The TnDeer.Com Deer Talk Forum is for Tennessee Deer Hunters by Tennessee Deer Hunters. If you enjoy using our Talk Forum and would like to contribute to help in it's up-keep. Just submit your contribution by clicking on the DONATE button below and paying with PayPal or a major credit card. Any amount is much appreciated. Thanks for your support!

TN Burn Safe

Generated in 0.207 seconds in which 0 seconds were spent on a total of 14 queries. Zlib compression enabled.