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Essay

The Debt: An Economic Catastrophe

Essay specific features

 

Issue:

English

 

Written by:

Thelma A

 

Date added:

August 11, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 857

 

Was viewed:

3787 times

 

Rating of current essay:

 
Essay content:

Presently, thirty-five cents of every tax dollar the federal government raises is used for interest payments alone on the debt. Though there have been operating surpluses within the federal government, they have been eaten up by the debt interest payments. Few people understand the devastating effects of compound interest...
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Though there have been operating surpluses within the federal government, they have been eaten up by the debt interest payments. Few people understand the devastating effects of compound interest. The debt, at a compound rate of 10%, doubles in seven years, quadruples in fourteen years, and is eight times as much in twenty-one years...
displayed 300 characters

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