At the end of 2000, the national debt totaled $5.628 trillion. Estimates for YE 2006 puts the national debt at $8.611 trillion. That's an increase of $2.983 trillion, yet government deficit spending during that period only totaled $1.323 trillion.
What other factors are contributing to the debt?
http://www.nber.org/palmdata/indicators/federal.html#Off-budgetSurplusordeficit(-)
2007-03-23 04:32:27 · 3 answers · asked by .... . .-.. .-.. --- 4 in Politics & Government ➔ Politics
Deficit spending, and borrowing money. That's it.
Make sure the number you are looking at including all the federal spending, not just the formal budget deficit.
The formal budget deficit doesn't include all the additional spending for special appropriations, including most of the supplemental war spending Bush has requested.
2007-03-23 04:40:19 · answer #1 · answered by coragryph 7 · 4⤊ 0⤋
Interest. Just figure 2 percent interest per year on 9 trillion dollars. Enough to feed a small country for a year!
I don't know what rate we are paying on the debt, but I know that interest expense is blowing the doors off actual spending deficits.
2007-03-23 11:36:38 · answer #2 · answered by uab_skinhead 3 · 2⤊ 0⤋
Socialist programs such as national healthcare, welfare etc..
2007-03-23 11:36:30 · answer #3 · answered by Anonymous · 0⤊ 4⤋