“What would it look like if Obama didn’t have to pay for Bush’s wars . . .didn’t have to pay for Bush’s prescription drug plan, didn’t have to pay for Bush’s tax cuts, didn’t have to pay for stimulus funds to rescue the country from Bush’s Great Recession, and didn’t have to pay interest (one of the biggest items in the federal budget) on the money that Bush and Reagan borrowed previously? Most likely, it would look like it did on January 20, 2001, the day that Bush came to office, and the United States was running the greatest surplus ever in its history.”
Most distressing to us should be that of those interest payments, 50% go to China. In earliler years that money stayed in the country with American citizens holding the debt in the form of bonds.