This nation and its citizens can't borrow, consume and spend itself silly forever, now can it? FY2007 Interest on the national debt was $430B or about $3800 per household per year. That's just the interest on money the feds spent that they didn't have. Just for scale, the national debt is $9.3Trillion. The TOTAL subprime mortgage debt in the nation is about $1Trillion. So, subprime mortgage debt is a piker compared to our national debt.
To see how the national debt has changed over time, check-out this graphic (from this website). Unsettling. Who was watching the shop when those administrations racked-up all that debt? Have you told your kids/grandkids how lucky they are to have to pay-off our debts? They may not be thrilled.
