Federal Debt "Much Worse Than Reported"

"....the U.S. is on track to spend at least $4.2 trillion in interest payments over the next decade ."

"As it stands now, with current projections, every American taxpayer pays $255 a month, every month, for interest on the federal debt.

Under the less rosy scenario projected by the Deloitte study,
http://gov.aol.com/2012/06/13/the-un...americas-debt/
each taxpayer would get a $424 monthly bill."

Added to that is the fact that interest rate fluctuations have the ability to significantly increase the debt. Currently, interest rates are at historically low levels. That probably won't continue, and if they rise to historical levels, interest payments on the debt go up, adding to the debt itself, the report noted.

"The economic projections being utilized are optimistic," said former Rep. Tom Davis, R-Va., who is now director of government

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