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Napanee, Ontario | Ok, so 4.5% increase in rates..
That means that for the government, interest payment would be almost 7% on treasuries, and the interest on that 17 trillion goes from 350 billion, to $800 billion.... or 38% of the National budget. Do you think that's possible?
Keep in mind that by the time they actually consider raising rates, the Debt could be closer to 20 trillion.
Just FYi, ireland, Greece Italy and others were all pretty much pooched as in interest climbed over 20% of tax revenues. | |
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It IS Different this Time.
