< HOME  Thursday, December 15, 2005

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.

It's GROWING.

Pretty soon, it'll be either US or INTEREST.

3 Comments:

At Thursday, December 15, 2005, Anonymous Doc said...

Brazil is also not the world's policeman, the world's farmer, or the world's sugar daddy.

If we could somehow motivate the rest of the world to defend itself, feed itself, and get a damn job, then we could stop being their slaves.

 
At Thursday, December 15, 2005, Blogger qrswave said...

I'm sure they'd be happy to...

...just as soon as international bankers, backed by the US military, stop enslaving them!

 
At Thursday, December 15, 2005, Anonymous tp said...

There is a law that man should love his neighbor as himself. In a few hundred years it should be as natural to mankind as breathing or the upright gait; but if he does not learn it he must perish.

-Alfred Adler

 

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