Brazil pays its bills, why can't WE?
Tuesday, Brazil announced it would pay back the remaining $15.5bn of a $33.7bn IMF loan, this year.
Brazil's finance minister said the early repayment would save Brazil $900m in interest payments.
Pretty good savings!
Now, let's see. As of 12/13/05, total US government debt stood at $8,136,066,508,140.10.
That's roughly $8.1 trillion, about 240 times greater than Brazil's total IMF loan.
In November of 2005 alone, the US government paid roughly $26.9 billion in INTEREST on US Treasury Bonds.
That's almost as much as Brazil's entire loan!
And that's just ONE MONTH!
Imagine what we could do with the money we'd save if we no longer had to pay INTEREST.
At this rate, we will NEVER, EVER get out of debt.
But, it's worse than that.
Pretty soon, it'll be either US or INTEREST.