Friday, September 26, 2003

GIVING MONEY TO IRAQ

Has anyone wondered how the United States can afford to give so much money to Iraq? I have. It's because I know what the United States national debt is. It's 6,806,136,437.663 dollars. And the debt is growing at the astonishing rate of 1.6 billion dollars a day. That's 66,666,666 dollars an hour or 1,111,111 dollars per minute or 18,518 dollars a second. The interest on the national debt at five percent per year(I guessed at the five percent figure)is $390,306,821,880. I have to assume that their paying that interest, otherwise nobody in their right mind would lend them another penny. How are they managing to dig up $390,306,821,880 a year in interest payments and still be able to eat you ask. The answer is that they're borrowing it of course. That explains the 1.6 billion dollar daily raise in the debt. When they can no longer pay the interest people are going to want their money back. The only way the government will be able to get it is to print more money. When a country does this without real value to back it up it causes inflation. Then money will be worthless. Then what will people buy food with?

No comments: