Root for the Bush
When George W. Bush became president in 2001, the national debt was at $5.7 trillion. Now, after five and one-half years of his stewardship, it is at $8.5 trillion. Will he be the one who reaches the $10 trillion milestone?
At the current rate of $560 billion annual debt—as opposed to deficit, George will achieve $9.880 trillion by January 20, 2009. That will leave him only $120 billion short of the $10 trillion mark. A couple points rise in the interest rates or another invasion would close the gap easily. This would be a monumental achievement for a mental lightweight.
At four percent, the interest rate paid on most savings bonds, the annual interest on the current debt is $340 billion. We Americans can brag proudly that what we pay in interest on our national debt is more than the gross domestic product of all but 25 nations in the world.
So let’s root for George, the man with numerous intelligence handicaps, who has made a deep footprint on America that won’t soon be forgotten.
At the current rate of $560 billion annual debt—as opposed to deficit, George will achieve $9.880 trillion by January 20, 2009. That will leave him only $120 billion short of the $10 trillion mark. A couple points rise in the interest rates or another invasion would close the gap easily. This would be a monumental achievement for a mental lightweight.
At four percent, the interest rate paid on most savings bonds, the annual interest on the current debt is $340 billion. We Americans can brag proudly that what we pay in interest on our national debt is more than the gross domestic product of all but 25 nations in the world.
So let’s root for George, the man with numerous intelligence handicaps, who has made a deep footprint on America that won’t soon be forgotten.
posted by Unknown at 6:32 PM
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