Interest on public debt as a percentage of gross domestic product:
1980 2.70%
1985 3.96%
1988 4.23%
1990 4.52%
2000 3.66%
2005 2.80%
2010 2.82%
Interest on public debt is 2/3 now of what it was when Reagan left office. All things being relative, if this is a crisis, then was a worse one. But this is no surprise – the current “fiscal crisis” is manufactured for political purposes. Unfortunately, both parties are doing the business on us, the debt ceiling “standoff” mere Kabuki Theater.
Obama will back down, as he always does, not because he is weak, but merely because he is a player on a stage, playing his part.
Piece of Mindful 