Paying The National Debt For Dummies

Amortization Schedule - click to enlarge

The Federal Government can pay off the National Debt in 30 years by making interest and principal payments of $699,013,323,930.52 per year. In Fiscal Year 2009 the government made interest payments of $383,656,592,545.78. So it would only take another $315,356,731,384.74 per year, or about $1,051 per capita to completely extinguish the debt. Since this will cost $8,883,038,042,900.88 in interest (at 4% over 30 years), I would suggest that you get started right away.

If you politicians were serious about fiscal responsibility, surely you could find a way to cut spending by $315,356,731,384.74 per year. I mean after all, many of you are claiming that more than that is wasted on Medicare each year.

The only condition for taking this bold step is that you stop deficit spending ‘now’. Pay the debt, end the deficits, stop making excuses, and quit playing games.

Source:

http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm

2 thoughts on “Paying The National Debt For Dummies

  1. There is No economic Crisis,…
    There is No energy crisis,…
    There is No debt crisis,..
    Only a Crisis of IGNORANCE.

    -Buck Minster Fuller.

    Larry Good Luck, with the Book “Economics for Dummies”

    PS. When you are done reading 'Capital Homesteading', I would like to send you a copy of “In Defense of Human Dignity” I think it even better in explaining the 'Justice Third Way' movement.

    Sorry did I say 'Justice'- One of the Cardinal Virtues- I meant “Just Third Way” 🙂

    Put another nail in the wall, when you read that one.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s