Thursday, February 17, 2011

Obama budget plan shows interest owed on national debt quadrupling in next decade

Starting in 2014, net interest payments will surpass the amount spent on education, transportation, energy and all other discretionary programs outside defense. In 2018, they will outstrip Medicare spending. Only the amounts spent on defense and Social Security would remain bigger under the president's plan.

http://www.washingtonpost.com/wp-dyn/content/article/2011/02/16/AR2011021606897.html?hpid=topnews

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