YEAR GDP INTEREST (billions of dollars)
2005 770 352
2006 754 406
2007 651 430
2008 263 451
2009 (352) 383
2010 587 414
2011 568 454
2012 360 408 (estimates)
GDP gains for the eight years come to approximately $3.6 trillion. Interest on the debt for the same years comes to approximately $3.3 trillion.
We are barely treading water. This is why the Fed is obsessed with interest rates. Any uptick in interest rates without an uptick in growth and the sheer size of the debt to be serviced will crush us.
