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Tierra del Ciego: What's Your Share?

In 2005, the total U.S. Federal budget was $2.472 trillion dollars. Total revenue was $2.154 trillion dollars, leaving a budget deficit for 2005 of $318 billion dollars. This brought the total amount of public treasury debt to $7.879 trillion dollars. The net interest paid to service this debt in 2005 was $184 billion dollars. In other words, over half of the current deficit can be attributed to interest the government has to pay on the debt already outstanding. To use the analogy of a credit card, the government took a $318 billion dollar cash advance in 2005, used $184 billion of it to pay the interest on the bill and spent the rest...  more....