In article ,
"sjedgingN0Sp"@m@mwt,net says...

Kurt Ullman wrote:

In article ,
jim wrote:


Interest payments by the federal govt are lower than
they have been for decades. When Reagan was president
federal interest pay outs were over 3% of GDP. Today they
are about half that.

Yeah, when RR took over from Carter (D-GA), interest rates were north of
13%. If they are indeed half that, given that current interest rates are
running around a 1/4 of that, it would seem that the amount owed is MUCH
higher. Just saying.

Of course it is higher. When Reagan was president
he borrowed more than all the presidents before him
by the end of his first term. And it has grown a lot since.
But the burden of interest is half what it was back then
so any claim that the interest is an undue burden is
suspect.

Fine, Jim, you go on believing that the government is solvent. The next
couple of decades are going to be _real_ bad.