Home > Uncategorized > Guest Post: Some Clear Thinking On ‘The Debt’ | ZeroHedge

Guest Post: Some Clear Thinking On ‘The Debt’ | ZeroHedge

At an average interest rate of 2.130%, Uncle Sam will shuffle $340 billion out the door just in interest payments this year… and it’s a number that’s only going up. To put it in context, China owns so much US debt that the INTEREST INCOME they receive from the Treasury Department is nearly enough to fund their entire military budget.

It’s rather disgusting when you think about it.

Yet when you look at the raw numbers, there is no sign of improvement anywhere on the horizon. Last year, the Treasury Department brought in about $2.3 trillion in tax revenue. They spent $2.9 trillion JUST on -mandatory- programs like Social Security and Medicare, plus the very sacrosanct defense budget.

via Guest Post: Some Clear Thinking On ‘The Debt’ | ZeroHedge.

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