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<blockquote data-quote="bacon" data-source="post: 390238" data-attributes="member: 3632">The US has put itself into massive debt. Currently just under <a href="http://www.usdebtclock.org/" target="_blank">17 trillion dollars.</a> BTW we added 11 trillion since 2000 so the trajectory of the government is to not slow down its spending so who knows how high it will be in after Obama leaves office. The debt repayments are subject to interest rates which are artifically low. But what happens when those interest rates increase?<a href="http://www.thefiscaltimes.com/Articles/2013/06/13/National-Debt-Could-Skyrocket-as-Interest-Rates-Rise#sthash.w3YwAyym.dpuf" target="_blank">Its already happening</a>&nbsp;So even if government is correct about future interest rates which suspect will be much higher you can see how much of the US budget will be going to servicing debt. This is why I believe that in 10 years the US will be on the level of developing countries in that it is too broke to pay for 90% of non essential workers and projects and that this can not go on forever.</blockquote>

[QUOTE="bacon, post: 390238, member: 3632"] The US has put itself into massive debt. Currently just under [url=http://www.usdebtclock.org/]17 trillion dollars.[/url] BTW we added 11 trillion since 2000 so the trajectory of the government is to not slow down its spending so who knows how high it will be in after Obama leaves office. The debt repayments are subject to interest rates which are artifically low. But what happens when those interest rates increase? [url=http://www.thefiscaltimes.com/Articles/2013/06/13/National-Debt-Could-Skyrocket-as-Interest-Rates-Rise#sthash.w3YwAyym.dpuf]Its already happening[/url] So even if government is correct about future interest rates which suspect will be much higher you can see how much of the US budget will be going to servicing debt. This is why I believe that in 10 years the US will be on the level of developing countries in that it is too broke to pay for 90% of non essential workers and projects and that this can not go on forever. [/QUOTE]

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