From The Daily Reckoning………..Not So Tiny Bubbles
Posted By thestatedtruth.com on December 23, 2009
Exactly one month ago, The New York Times ran a front-page headline, “Wave of Debt Payments Facing US Government,” and punctuated the point of the accompanying story with the chart below:
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The following day, we tipped our hat to the Grey Lady and re-produced the chart for the benefit of all Daily Reckoning readers who do not also read The New York Times. We also highlighted some of the disturbing New Math that this chart implied. Specifically, we reported, “The government will have to cough up $1.6 trillion just by the end of March. Ten years from now, the mere cost of servicing the debt is expected to reach $700 billion annually, more than three times the current burden.”
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