From the SF examiner, a bit of a jolt to the sense of well-being in the economy from Ralph Benko

“The federal government currently pays…..$202 billion a year in interest. The White House estimates that interest payments will rise to $700 billion per year in 2019….Out of the $3.1 trillion federal budget, $1.89 trillion is considered “mandatory spending.”……Leaving $1.2 trillion. If one subtracts the budget of the Defense Department, which is $515 billion …. the rest of the money the government currently spends is $686 billion a year..”

Read the whole story here

[1] http://www.sfexaminer.com/opinion/columns/oped_contributors/Interest-on-the-debt-will-make-things-interesting-79032752.html

Commentary:  Ralph Benko has pointed out in as nice a way as possible (bearers of bad tidings tend to get treated badly, so Benko is walking a fine line here) that the remaining dollars for the 2019 budget are projected to be less than the extra amount of cost added by the rising interest rates on US debt that are inevitable.

If that doesn’t make you choke on your coffee, nothing will, and if the mainstream media doesn’t pick up on this alarming statistic, then the news media itself has to be jettisoned along with the excessive overspending of the past few spend and tax regimes that has swept through America like Communists through a third world country.

Paul Collier

An American Freedomist