Deeper in Debt
The NY Times reports this morning:
For the first time during President Bush's tenure, the government's interest bill is expected to rise in 2006, from $184 billion in 2005 to $220 billion this year, up nearly 20 percent. That increase -- $36 billion -- makes interest the fastest-growing component of federal spending, and continued brisk growth is likely. According to projections by Congress's budget office, the interest bill will grow to $249 billion in 2007, and $270 billion in 2008.
One other important tidbit. About 45% of those interest payments go to foreign investors, some of them, not wishing the U.S. well, at all. One could argue, we are funding in part, the war against us.
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Comments
"Be thankful we're not getting all the government we're paying for."
-- Will Rogers
Keep up the good works David. Right now I don't know which sickens me more, the acts of our government or the apathy of our citizens.
Posted by: Ron McCann | October 5, 2006 7:41 AM
Thanks Ron. My take is: the apathy and lack of understanding by our citizens are the greater threat to our democratic republic.
I remain hopeful that the sleepers will have awakened by Nov. 7.
Posted by: David R. Remer | October 5, 2006 4:43 PM
"Always acknowledge a fault. This will throw those in authority off their guard and give you an opportunity to commit more."
-Mark Twain (Paid for and endorsed by the Republican Party)
I once heard "Hope, without action, is fantasy". As I see it most of us are hoping that it will turn around on its own without having to get involved.
We have an abundance of bloggers, advisors, consultants and spin doctors blasting us with negatives. Could it be that our apathy is an indication of depression which only makes us look like sleepers?
Posted by: Ron McCann | October 6, 2006 7:50 AM
Ron said: "Could it be that our apathy is an indication of depression which only makes us look like sleepers?"
That could well be the case. The thought has occured to me many times since starting VOID that there must be a better use of my time and happier activity than trying to push a boulder uphill.
But, as you say, that is just my penchant for disappointemnt and frustration trying to get the better of me. I know in my mind, that perseverence and staying power toward a difficult task, has been how many changes in our past have taken place. In my mind, I know the Vote Out Incumbents mission can succeed, if some of us never abandon the cause and give all we have to inspire others to the cause.
Posted by: David R. Remer | October 7, 2006 7:47 AM