Not Such A Good Deal
As of this writing, the Ronald Reagan Memorial National Debt stands at eight trillion, ninety-five billion, nine hundred forty-four million, eight hundred ninety-two thousand, three hundred seventy-one dollars and forty-eight cents. That’s a stack of $100 bills 549 miles high (). The Hubble Space Telescope orbits about 375 miles above Earth.
In fiscal 2005, the US government made $2.053 trillion, and spent $352 billion paying interest on the debt. This is just the minimum payment to keep the debt from growing even more.
In other words, for every dollar that the US government receives in taxes, 17 cents gets taken off the top right off the bat to pay interest on the debt. For every one of your tax dollars, the government can only spend 83 cents on defense, homeland security, urban development, law enforcement, Medicare/Medicaid, research, and everything else the government does.
We Americans love a good bargain. I don’t think paying $1.20 for a dollar’s worth of defense is a good deal.