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SteveL27
SteveL27 is offline
#7
Aug15-11, 09:14 PM
P: 799
Quote Quote by moejoe15 View Post
I would like to know how much of my tax dollar goes towards paying interest on the national debt.

Specifically, I suspect that my taxes would go down significantly if we had no debt or interest to pay on it and I would like to know how much.

Everyone talks about lowering taxes yet not one person has mentioned this. If what I suspect is true why isn't every American screaming at our politicians to not just balance the budget but pay off the debt and remove that tax burden from us instead of making it worse every day? Balancing the budget is the tip of the iceberg and the Titanic is still heading towards it.
$412 bilion. http://www.treasurydirect.gov/govt/r...ir_expense.htm

Not a bad deal, really. You can run three major and several minor wars, promise everyone great retirement and medical benefits, and never have to pay for any of it. And the Fed has just announced it's going to keep real interest rates effectively at zero for the next two years. And they can print all the dollars the government needs. What's not to like?