DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Interesting post from the comments section at Reuters

**wonceinee** · 08-21-2011, 06:36 AM

In a time of great uncertainty we can still be sure of a few things. Since our current national debt of $14.6 trillion is 146 times $100 billion, we will take 146 years to pay it off at the rate of $100 billion per year, interest not included. The interest is $250 billion per year. Once we add that in, our new total pay off amount is $29 trillion, but could go much higher. However, we plan to borrow much more: $7 trillion more in just the next 10 years. That will mean an additional 70 annual payments of $100 billion each, interest not included. So, our payoff time will increase from 146 years to 216 years. This is called generational theft.

08-21-2011, 06:36 AM	#1
wonceinee Join Date Oct 2005 Posts 435 Senior Member	Interesting post from the comments section at Reuters In a time of great uncertainty we can still be sure of a few things. Since our current national debt of $14.6 trillion is 146 times $100 billion, we will take 146 years to pay it off at the rate of $100 billion per year, interest not included. The interest is $250 billion per year. Once we add that in, our new total pay off amount is $29 trillion, but could go much higher. However, we plan to borrow much more: $7 trillion more in just the next 10 years. That will mean an additional 70 annual payments of $100 billion each, interest not included. So, our payoff time will increase from 146 years to 216 years. This is called generational theft.
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