We can’t keep going on like this….
Sooner or later, the piper demands to be paid:
With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher.
In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.
The potential for rapidly escalating interest payouts is just one of the wrenching challenges facing the United States after decades of living beyond its means.
NOTE: I’m on vacation this week, so posting will be a little lighter than normal. As you might have noticed….
Tell us what you think about the site
Customer Care »
Vacation stops, manage subscriptions and more
AJC Services
Sections
Other Editions
Guides
Visitor Agreement | Privacy Statement
© 2011 The Atlanta Journal-Constitution
690 comments Add your comment
Fly-On-The-Wall
November 23rd, 2009
10:14 am
I know the answer – A TAX CUT!
Angry Black Man
November 23rd, 2009
10:14 am
First?
Fly-On-The-Wall
November 23rd, 2009
10:16 am
Gee, let’s do something the Republicans say all the time but never do, let’s be responsible for our own actions and pay our own way. Institute a war tax now or get out!
I Report :-) You Whine :-( mmm, mmmm, mmmmm!
November 23rd, 2009
10:17 am
Raise taxes, right?
I know the trillion dollar health care bill won’t be derailed no matter how “concerned” the libs seem.
USinUK
November 23rd, 2009
10:20 am
Hi fellow Bookmaniacs … so … did I miss anything exciting over the last 2 weeks???
As for the deficit … how about a gummint rummage sale? bake sale for the Dept of Defense? silent auction for the commerce department?
me, I would have liked to have seen war bonds for the Iraq/Afghanistan war … let all the 101st Chairborn division pony up for the war they were so hot for …
RW-(the original)
November 23rd, 2009
10:21 am
If you’re on vacation why not just give us another picture of a fish? We’ve got a record to shoot for you know.
Fly-On-The-Wall
November 23rd, 2009
10:25 am
Hmm, did whine try to change the topic from the Republican failures?
Redneck Convert (R--and proud of it)
November 23rd, 2009
10:25 am
Well, I’m like all the other godly Conservatives on here. Tell me what it’s going to do to my personal bank account and taxes and I’ll tell you what we need to do. But you just can’t leave me stuck with all this information about the debt and not tell me how it’s going to hit me in the wallet.
Otherwise, I’m glad to see USinUK back from vacation. She gets a little wild-eyed and radical at times, but she’s worth a read. It’s alot better than seeing mike put on his hissy-fit about bigots and such.
Have a good day and Thanksgiving week everybody. I’m awful glad to see the school buses will be off the road for awhile starting Wednesday. Maybe we can travel the roads at a decent clip, like 85 or 90 mph.
Bosch
November 23rd, 2009
10:27 am
Howdy USinUK,
Oh, you missed tons!!! Glad you’re back. I hope you had a nice holiday.
Yes, I agree with Fly – we should lower taxes on everything and spend beyond our means. I think that’s a GREAT plan! Whose with me?
USinUK
November 23rd, 2009
10:29 am
Bosch –
so glad you’re here today … didn’t know if you saw this score …
http://www.telegraph.co.uk/sport/football/leagues/premierleague/tottenham/6617088/Tottenham-Hotspur-9-Wigan-Athletic-1-match-report.html
if I was the Wigan coach, I’d be asking only 1 question … “guys … who is covering Defoe??? anyone? anyone???”
Bosch
November 23rd, 2009
10:30 am
Fly,
War tax? I totally agree. I think it should be a seperate transaction every time you buy anything – even a Coke from the store – not just some added on percent like sales tax, but a seperate transaction – that way you see it, you hold the receipt, and you know how much you spent. In other words – you own it.
RW-(the original)
November 23rd, 2009
10:31 am
Bosch,
Obama claims he’s already cut taxes for 95% of us and he’s quadrupled deficit spending. I don’t think your plan is working.
Peadawg
November 23rd, 2009
10:32 am
So much for Obama doing something to help the deficit. O wait, he’s helped it all right!!! And now comes health care for everyone! Lord help us!!
Boogers for the Children Fund
November 23rd, 2009
10:33 am
We cannot afford this OboboCare.
We need a tax increase on the lower class.
We can no longer afford the earned income credit.
Cull-out govt workers waste…no govt issued c-phones, credit cards etc.
Re-visit the welfare/food stamp enrollees for fraud.
The govt giveaways must stop.
Angry Black Man
November 23rd, 2009
10:33 am
Cut government spending across the board to include subsidies of all kinds unless necessary for national security.
Increase import tarriffs to make it cheaper for companies to make goods here. Maybe that would lowre unemployment and increase the tax base.
Short term tax increase that expires once the deficit is lowered to a managable amount and resets tax rates that are equitable across all income levels.
Angry Black Man
November 23rd, 2009
10:35 am
Lower-you idiot.
Bosch
November 23rd, 2009
10:35 am
USinUK,
Didn’t see that game, but I hate games like that – they are so boring. I did see that score though – wow! I can just imagine the announcers, after the first three or four goals scored by Defoe, there all like in their best sarcastic voice , “Oh, yeah, Defoe [eyes roll]” Eventually they probably started talking the latest rugby scores.
RW-(the original)
November 23rd, 2009
10:38 am
Lower-you idiot.
HEY! Enough with the name calling…
/I thought you were using a British spelling to welcome USinUK back.
Normal
November 23rd, 2009
10:38 am
This just in! United States Of America files for Chapter Seven…film at eleven…
Bosch
November 23rd, 2009
10:39 am
RW,
I’m so disappointed in ABM’s outburst. The blog has got to him apparently.
Angry Black Man
November 23rd, 2009
10:40 am
RW
Another case of the fingers not being able to keep up with the mind. Sometimes I can be dangerous when I’m thinking.
Boogers for the Children Fund
November 23rd, 2009
10:40 am
Cut foreign aid by 10 to 25%.
Cut 100% the aid for africa program. If those numbskulls arent educated by now then so be it.
Cut govt grants by 15%.
Decrease the HOPE scholarships availability.
Normal
November 23rd, 2009
10:40 am
RW, from below…They didn’t line up 24 hours in advance for the car wreak, they did it for the baby pandas…
RW-(the original)
November 23rd, 2009
10:40 am
Bosch,
Let’s just hope he doesn’t start threatening to slap himself around.
Angry Black Man
November 23rd, 2009
10:40 am
Bosch
That outburst was directed inward.
USinUK
November 23rd, 2009
10:41 am
“no govt issued c-phones, credit cards etc”
now, that’s funny. so, the folks with Homeland Security, FEMA, Department of Defense, etc., should all be forced to use their own personal cell phones when they’re out dealing with crises … because they all make soooooo much money to begin with …
yeah. that’ll definitely reduce the deficit.
Paul
November 23rd, 2009
10:41 am
And it’s escalating? Really? Any ideas why?
The geniuses at Saturday Night Live seem to have it figured out. (When a skit isn’t seen as a one-off, ‘hey! Hollywood actually took aim at the Obama Administration” but is just one more parody on one more week… well, a corner’s been turned).
Hang in for the clip. If you want to jump ahead, then go to 2:30 and finish watching.
http://www.nbc.com/saturday-night-live/video/clips/china-cold-open/1178451/
Angry Black Man
November 23rd, 2009
10:42 am
RW
The slapping might not be that bad. It depends on where I’m slapping myself. LOL!!!
Normal
November 23rd, 2009
10:42 am
ABM, “Another case of the fingers not being able to keep up with the mind.”
I certainly isn’t true when you have your pistol out!
Jess
November 23rd, 2009
10:42 am
This has been the repubs. central theme in the health care debate all along. Guess the NY Times has to point it out before some will listen.
USinUK
November 23rd, 2009
10:42 am
RW –
“British spelling to welcome USinUK back”
then, I think it would have been “lower – ye olde idiote”
Angry Black Man
November 23rd, 2009
10:43 am
BBL. Gotta lunch date with the lil one at daycare.
Scooter
November 23rd, 2009
10:44 am
Hey USinUK,I have just recently gotten back myself. I hear the market is going to tank again soon. Any advice will be appreciated! Hope you had a great vacation.
RW-(the original)
November 23rd, 2009
10:44 am
Normal,
Surely even you can see the difference between gawking at a car wreck and witnessing a baby panda. When you compare a Sarah Palin book signing to both of these like the guy you molested at the book store supposedly did then that isn’t a very serious person.
USinUK
November 23rd, 2009
10:46 am
wow, paul … SNL made fun of a Dem president??? that’s earthshattering … I mean, they NEVER made fun of Clinton or Carter …
Jack
November 23rd, 2009
10:47 am
We have experts in Washington telling us that to fix things we have to spend more tax dollars than are received. It does not work that way: try running a business and that fact becomes very clear.
USinUK
November 23rd, 2009
10:48 am
Scooter –
unless you need funds immediately, ride it out … at the end of the year, you always have profit-taking going on … and this year, they have huge profits to take.
Normal
November 23rd, 2009
10:49 am
RW, I think he was just saying that curiosity is the driving force and not adoration…at least for him. And he mused that there were probably pleanty there just like him. As, I suppos, there are plenty more out there just like me…completely indifferent to her and her book.
—————
SCOOTER, what you you mean…again? the key word is Still!
————–
USinUK. welcome back!
Jess
November 23rd, 2009
10:50 am
The US has financial problems? Wow, nobody saw this coming.
USinUK
November 23rd, 2009
10:50 am
“try running a business and that fact becomes very clear”
my prayer for 2010: that people will one day realize that GOVERNMENT ISN’T A BUSINESS. IT SHOULDN’T BE RUN LIKE A BUSINESS. AND, GOD KNOWS, WE DON’T NEED A “CEO PRESIDENT”.
(taking a deep, cleansing breath)
in the name of His Noodly Appendage.
Ramen.
Paul
November 23rd, 2009
10:50 am
USinUK
Welcome back!
Ummmm…. the point wasn’t Democratic presidents…. the point was the lovefest with the current one. Don’t'cha’ remember the buzz when they first parodied Pres Obama? Don’t you? It made news because it was…. news.
Now it’s not.
’sides which, the skit nailed it.
USinUK
November 23rd, 2009
10:51 am
(waving)
hey Normal!
RW-(the original)
November 23rd, 2009
10:53 am
And he mused that there were probably pleanty there just like him. As, I suppos, there are plenty more out there just like me…completely indifferent to her and her book.
How open minded of you. I suppose there could also be people that are interested in her story. What say you?
thomas
November 23rd, 2009
10:53 am
regardless of fault for the deficit, is it really a good idea to be tacking on another 800billion now?
Or would it maybe be a wiser choice to hold off on HC reform, or lower the cost?
Unless some people are putting their own wants and desires ahead of the needs of the country?
Seems the more the 2 parties claim to be different the more they show they are the same. Both have an agenda and do not care what the effects of their agenda is as long as they get what they and their lobbiest want.
USinUK
November 23rd, 2009
10:55 am
paul –
wow. SNL skits are news??? and you wonder why I watch the BBC.
Gale
November 23rd, 2009
10:55 am
From someone who once overspent her means and had to pay down high credit debt, DUH!
stands for decibels
November 23rd, 2009
10:56 am
If you’re on vacation why not just give us another picture of a fish?
A turkey, I think.
Normal
November 23rd, 2009
10:56 am
I suppose there could also be people that are interested in her story. What say you?
Indeed, it’s the diversity that makes the world go around.
Scooter
November 23rd, 2009
10:56 am
Thanks USinUK, I’ll hang in there!
Yeah Normal, but it is only half tanked still. I think! ??????
Bosch
November 23rd, 2009
10:56 am
Paul,
Your Friday afternoon activity? So?????