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Re: ''We are broke'' — James Baker

Posted by David Fairthorne on Sun Apr 10 17:13:50 2011, in response to Re: ''We are broke'' — James Baker, posted by SMAZ on Sun Apr 10 16:49:24 2011.

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The government pays the principal and interest in the times and amounts agreed to.

Quite so. And if nothing changes, more and more debt will be needed, and interest on the debt will amount to an ever increasing fraction of government expenditure.

If the trend continues unchecked, there will be eventually be no revenue left over to pay for anything else, such as the military.

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