THERE IS NO SANTA CLAUS, JUST OBAMA-CLAUS

ANYONE UNDER 30 IS SCREWED BY THE DEMOCRATS

Chart of the year: Entitlements and Interest drive the Fiscal Crisis

http://blog.heritage.org/2012/12/26/chart-of-the-year-2012-entitlements-and-interest-drive-the-fiscal-crisis/

The Foundry – Romina Boccia – 12/26/2012

Click the link to view the chart – 2012 – 2037

Payments for all the entitlement programs will be dwarfed by interest on the national debt in 12 years.

This projection by the Congressional Budget Office assumes that historically low interest rates continue at least until 2015 and that inflation will be modest, inching up toward 2 percent of gross domestic product (GDP) by 2017. Nevertheless, spending on interest on the debt would double before the end of the decade.

Should the Federal Reserve’s continued and prolonged quantitative easing lead to more severe inflation—a risk that is very real—the dangerous scenario painted in the chart of the year could come about even sooner.

 

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