Posted by: Tony Carson | 3 November, 2009

US debt set to soar into rarified air

Once a bit of a turkey, US debt is sprouting the wings of an eagle.

The Congressional Budget Office reckons the Obama administration’s planned budgets would increase the debt-to-GDP ratio from 41% in 2008 to 82% in 2019.

Higher interest rates would aggravate the debt burden.

Anticipating higher rates, the CBO estimates annual interest payments on the federal debt at $799 billion in 2019, up from $170 billion in 2009. — WashPo

Bill Clinton never looked so good.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s


%d bloggers like this: