Friday, April 6, 2012

U.S. Interest Payments Will Exceed It's Defense Budget' By 2019

Obama's Budget: 'Interest Payments Will Exceed Defense Budget' in 2019 -- Weekly Standard

The latest chart from the Senate Republican Budget Committee, pointing out that under President Obama's budget, the U.S. government will be spending more in 2019 to pay the interest on the national debt than it will be to defend America:

Read more ....

My Comment: The above graph is wrong if these figures are used .... U.S. interest costs to pay its debt were $454 billion in 2011 ... not in the low 200s. Interest payments will probably exceed the defense budget at an earlier date .... probably by 1026.

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