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.

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