Top Global Accounting Firm: US Debt Crisis 'Bigger Than You Think' -- FOX News
What is the real cost of the U.S. government's nearly $16 trillion debt?
"The debt crisis is likely bigger than you think," a new report issued last week by Deloitte, one of the world's largest accounting firms, concluded.
That's because interest payments add a whole new level of fiscal pain to the country's debt problem. Interest payments on the national debt alone, it noted, are expected to total some $4.2 trillion over the next decade.
And that number could fluctuate depending on rates.
Read more ....
Update: May Budget Deficit Up From Year Earlier -- FOX News
My Comment: I hope not .... but America's debt crisis is probably bigger than what we think .... a reality that will hit us when interest rates start to climb.
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