The Cost of Our Debt

Jump to Last Post 1-1 of 1 discussions (5 posts)
  1. profile image0
    JaxsonRaineposted 6 years ago

    We have a huge debt, sure, but what does it mean?

    Right now, interest rates are low. In 2011, we spent $227 billion on interest payments. Just think about that for a second. $227 billion dollars gone, spent on essentially nothing. Every year, we waste taxpayer dollars on our debt. $227 billion dollars split among all tax returns would give each household a check for $1,600.

    CBO's baseline projection(meaning if nothing changes) estimates that by 2022, we will be spending $624 billion on interest. That's the baseline, not what is actually going to happen if we continue making things worse and worse. With changes that are coming, you have to add trillions and trillions more to the debt though 2022.

    Federal debt is like a credit card. The more you spend before you have it, the more it bites you in the rear later on. From 2013-2022, we are going to spend $4.2 trillion dollars, on interest.

    1. JSChams profile image58
      JSChamsposted 6 years agoin reply to this

      Non of that makes any sense. Where's your data?
      (Devil's advocate)

      1. profile image0
        JaxsonRaineposted 6 years agoin reply to this

        Meh, if I post the data, I'm sure *some* unnamed people here will call the source a conservative-baised-koch-endorsed-think-tank.

        In all seriousness, here: … utlook.pdf

        1. JSChams profile image58
          JSChamsposted 6 years agoin reply to this

          Oh I know you had it and yeah there are a couple here who will deny the validity of anything...anything at all.

          1. profile image0
            JaxsonRaineposted 6 years agoin reply to this

            I dunno, the CBO is harder to deny.

            My guess is they'll ignore it completely. Just like when I showed GE's tax rate. Just like when I showed the efficiency of UPS vs USPS. Just like when I showed how many jobs were created by Bain Capital(even though jobs are only a side effect of their goals). Just like when I showed how GM is continuing to rip off all Americans, while being praised as Obama's glorified saving of the economy.


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)