Monday, November 23, 2009

Stat of the day

Today's New York Times:
Alan Levenson, chief economist at T. Rowe Price, estimated that the Treasury’s tab for debt service this year would have been $221 billion higher if it had faced the same interest rates as it did last year.
The debt is mounting ever higher and interest rates won't stay low forever. Are serious efforts being made to address this? No, Congress and the Administration are busy trying to pass a massive new entitlement program. The mind boggles.

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