I placed this comment on a finance website earlier today:
- US Government debt is growing more than 2 times faster than GDP. Q4 2015 GDP = 1.2%, debt growth this year is 2.6%.
- Interest alone on the debt is $.5 trillion this year! And that's with central bank interest rate suppression!
- The US CBO says that by the end of the next president's first term, the US will begin to incur $1 trillion debt per year -- indefinitely.
- If interest rates on the 2-yr bond return to just 2% per year, the interest will consume virtually ALL US government revenue just to pay the interest on the national debt.
- There are now more recipients of government assistance, than there are taxpayers paying for those benefits! And it's not even close!