This is from the always entertaining Daily Reckoning. Writing under the pseudonym The Mogambo Guru, the analyst points out that:
The interesting thing is that Treasury Gross Public Debt is now $9.244 trillion, up from $5.65 trillion in the middle of 2001, when the current government-borrowing binge started going bananas, suddenly rising at a steady $50 billion per month or so.
And for a little perspective, that $3.594 trillion in additional debt means that, at even 5% interest, the government is now paying out $180 billion a year, just in the additional interest payments on just this additional debt, which is more than the entire total of the “economic stimulus” checks that are going to be mailed out! This is insane! And scary as hell!
Posted: February 25th, 2008 under Americas, Fixed Income, General.
Comments: none
Our monthly reports tell you what countries and currencies offer the best deals. Travel and buy smart!