Peter Schiff: The real fiscal cliff

http://freedomwat.ch/wp-content/uploads/2012/09/B3_Obama_Debt_GG_WEB_s160x4072.jpg

“On the current trajectory, the national debt likely will hit $20 trillion in a few years. If, by that time, interest rates were to return to 5 percent (a low rate by postwar standards) interest payments on the debt could run around $1 trillion per year. Such a sum would represent almost 40 percent of total current federal revenues and likely would constitute the single largest line item in the federal budget. A balance sheet so constructed would create an immediate fiscal crisis in the United States.”

http://www.washingtontimes.com/news/2012/sep/3/the-real-fiscal-cliff/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin