March 5, 2012
US To Pay $5 Trillion in Interest in Next Decade
[From article]
"Uncle Sam will shell out more than $5 trillion in interest payments over the next decade, according to the latest projections from the Congressional Budget Office.
That's more than half of the projected $11 trillion increase in debt held by the public during that period. Those figures assume that a host of expensive policies such as the Bush-era tax cuts are extended.
Over the decade, more than 14% of all revenue the government is projected to collect will be sucked up by interest payments.:"
http://money.cnn.com/2012/03/05/news/economy/national-debt-interest/index.htm
Washington's $5 trillion interest bill
By Jeanne Sahadi
@CNNMoney
March 5, 2012: 5:53 AM ET
CNN
"Uncle Sam will shell out more than $5 trillion in interest payments over the next decade, according to the latest projections from the Congressional Budget Office.
That's more than half of the projected $11 trillion increase in debt held by the public during that period. Those figures assume that a host of expensive policies such as the Bush-era tax cuts are extended.
Over the decade, more than 14% of all revenue the government is projected to collect will be sucked up by interest payments.:"
http://money.cnn.com/2012/03/05/news/economy/national-debt-interest/index.htm
Washington's $5 trillion interest bill
By Jeanne Sahadi
@CNNMoney
March 5, 2012: 5:53 AM ET
CNN
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