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July 28, 2006
SouthAmerica: Reagan spent a ton of money on defense a lot more than necessary for defense purposes â what do we have to show for today for all that investment?
A bunch of old and obsolete technology â old jets that are probably sitting in the Arizona desert waiting to be turned into scrap metal?
And what else?
The one thing we have for sure â the outstanding US government debt related to all that spending and the annual interest in the billions that have to be paid year after year.
In interest alone on its growing outstanding debt the US government spends on an annual basis over $ 300 billion dollars on interest payments â and as the debt continues to grow and interest rates continue to increase â the annual interest to be paid related to all this debt will take larger and larger slices of the annual US government budget.
Reagan wasted a ton of money that instead could have been spent on a number of things related to US infrastructure and be useful for many generations to come. (Bridges, tunnels, electric power grid, water system of major cities, and so onâ¦)
.
July 28, 2006
SouthAmerica: Reagan spent a ton of money on defense a lot more than necessary for defense purposes â what do we have to show for today for all that investment?
A bunch of old and obsolete technology â old jets that are probably sitting in the Arizona desert waiting to be turned into scrap metal?
And what else?
The one thing we have for sure â the outstanding US government debt related to all that spending and the annual interest in the billions that have to be paid year after year.
In interest alone on its growing outstanding debt the US government spends on an annual basis over $ 300 billion dollars on interest payments â and as the debt continues to grow and interest rates continue to increase â the annual interest to be paid related to all this debt will take larger and larger slices of the annual US government budget.
Reagan wasted a ton of money that instead could have been spent on a number of things related to US infrastructure and be useful for many generations to come. (Bridges, tunnels, electric power grid, water system of major cities, and so onâ¦)
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