> Does anyone really think the National Debt will ever be paid back?
No, the debt is never paid off. But we continue to pay the interest on it in perpetuity, and at a certain point the interest paid on the debt will exceed the revenue available to pay it. Note that today, interest rates are near a historical low, so it's really cheap for the government to borrow money. But if the promised (and very unrealistic) growth predictions actually materialize, the Fed will raise interest rates to put the brakes on inflation. Re-financing the existing debt will get a lot more expensive, which will increase the need for revenue to cover interest.
No Toto, we're not in Sam Brownback's Kansas. But it sure seems familiar.
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Today's Featured Article - Tractor Hydraulics - The Basics - by Curtis Von Fange. Hydraulics was one of the greatest inventions for helping man compound the work he can do. It’s amazing how a little floor jack can lift tons and tons of weight with just the flick of a handle. What’s even more amazing is that all the principals of hydraulic theory can be wrapped up in such a small package. This same package applies to any hydraulic system from the largest bulldozer to the oldest and smallest tractor. This short series will take a look at the basic layout of a simple hydraul
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