Borrowing A Billion Dollars — Every Day

By | April 21, 2005

“Most Americans are vaguely aware that Congress has run up huge deficits in recent years, but the numbers involved are so large that it’s hard to grasp what our government’s indebtedness really means to us as individuals.

“The total federal debt is quickly approaching $8 trillion, courtesy of an administration that borrows roughly one billion dollars every day to
pay its bills.

“Interest payments alone already consume nearly 10% of the annual federal budget, and Congress shows no sign of abating its spending appetite anytime soon.”

— U.S. Rep. Ron Paul

(Source: “Deficits Make You Poorer” )

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