Wednesday, January 26, 2011

The Real State of the Union in Five Screenshots

After listening to President Obama’s State of the Union speech last night, I thought I’d post on the real state of the Union using just 5 screenshots:

2.)   The interest paid on the debt to the penny to December 31st, 2010:

The most critical of these issues is the massive and growing amount of interest owing on the debt since it is already impinging on the federal government’s ability to fund entitlement programs like Social Security, Medicare and Medicaid. 

God help us all if interest rates should ever rise to historical norms.

1 comment:

  1. The only way out is debt monetization. It will have to be paid somehow, and it seems like the inflation tax is the easiest to levy...

    ...put it to you this way: you have the elites like Bernanke and Carney talking about the "evils" of deflation, and we must do everything in our power to avoid deflation. It is almost as if the people are "asking" for the inflation tax!