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A very good review of why our national debt is so large and growing every year.
How to Tell When Deficits are Bad
Posted from nationalreview.com
Taxes
Budget
Congress
Posted 7 y ago
Responses: 3
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Yes, it’s bad, but the majority of the interest paid on the National Debt stays here in the USA. Just a redistribution of Income by another name.
Net interest payments on the debt are estimated to total $276.2 billion this fiscal year, or 6.8% of all federal outlays. (The government projects it will pay out about $474.5 billion in interest in fiscal 2017, which ends Sept. 30. But that includes interest credited to Social Security and other government trust funds, as well as a relatively small amount of offsetting investment income.) By comparison, debt service was more than 15% of federal outlays in the mid-1990s; the share has fallen partly because lower rates have held down interest payments, but also because outlays have risen substantially: up about 27% over the past decade.
Net interest payments on the debt are estimated to total $276.2 billion this fiscal year, or 6.8% of all federal outlays. (The government projects it will pay out about $474.5 billion in interest in fiscal 2017, which ends Sept. 30. But that includes interest credited to Social Security and other government trust funds, as well as a relatively small amount of offsetting investment income.) By comparison, debt service was more than 15% of federal outlays in the mid-1990s; the share has fallen partly because lower rates have held down interest payments, but also because outlays have risen substantially: up about 27% over the past decade.
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Col Joseph Lenertz
Yes, if predictions are accurate. They are usually NOT accurate. See ACA predictions for deficit reduction before it became law, and then in reality how much ACA added to deficit after it became law. But Dems didn't care about deficits then. Now they do, apparently.
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Lest we forget—- the DOD budget remains a major factor in any discussion!
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