its payable but yes it sucks. but the idea of watching all the banks fall, killing the auto industry, watching the houseing market tank more, and not fixing health care would lead to far bigger problems. It was a no win situation realy.
yea becuse Republicans added no debt right you .......
Ah yes, the bigots are in full swing! Pretending Bush killed the auto industry? I suppose if Al Gore had been dumping his auto tax on the entire industry, suddenly all their budgets would have balanced, labor costs would have spontaneously dropped, and millions around the country would have dropped everything to buy domestic cars! Why yes of course! You're a brilliant hypocrite!
What an idiotic theory....
But then you mumble on about how Republicans added no debt. So what? What difference does it make if Republicans did, or did not add any debt?
Let's review.... if adding debt is bad, then isn't Obama's $10 Trillion over the next 9 years bad? Or if adding debt is NOT bad, and Obama's $10 Trillion is no big deal, then why does it matter if Republicans did it?
Oh wait... we're in dumb *** hypocrite land where it's ONLY bad if REPUBLICANS do it. Right right, sorry. I forgot I was talking to a bigot.
Can't we guesstamate Or avarage it out or something? If we the people owe the money, then we the people should have an idea of how much we owe per month.
To answer your question more specifically, no. Congress has been screwing with the debt in so many ways, it's impossible to know how much is paid each month in interest.
From the 2009 Budget, which is now 9 months old, our national debt was roughly $10 Trillion at the time, and our interest payment was $260 Billion dollars.
The problem is, that only covers a small fraction of the story. That only includes privately owned debt, which means the sell of T-Bills like what China has been purchasing.
The problem is things like Social Security. Currently SS draws in more money than it puts out. So on budget this reads as a net income.
But in reality, we are paying massive interest on borrowed money from a past generation. As of 2004, the trustees of the SS fund, have reported that SS is faced with nearly $10.4 Trillion dollars of unfunded liabilities. This is money owed in addition to the $10 Trillion debt on the general fund.
This was done purposefully by politicians to conceal the debt on paper, and make people believe Clinton had a balanced budget. Since Social Security was moved off budget, the social security debt is off budget too, resulting in a much lower debt than what really exists.
