What is National debt? - The Mindful Jay Walker
The Mindful Bullshit Monitor

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What is National debt?

April 23, 2012

According to an article in the Washington Post (February 17, 2011),   Interest payments on the national debt will quadruple in the next decade and every man, woman, and child in the United States will be paying more than $2,500 a year to cover for the nations past profligacy, according to figures in President Obama’s new budget plan.

Starting in 2014 net interest payments will surpass the amount spent on education, transportation, energy, and all other discretionary programs outside defense.

In Summary, I would compare  National Debt to credit card debt resulting from giving your Visa Gold indefinitely to your uncle the compulsory spender on the basis that he is looking after your interests even though you know from past experience that he will at best not come through when you are in trouble and more often than not also throw you under the bus.   Except on a bigger scale!    These are my words, not the Washington Post’s.

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