The most frightening element of this ten-year forecast is that an estimated $5.6 trillion of the debt would be interest expense. Yes, that’s right, interest.
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CBO Projects Obama’s Budget Would Add $9.8 Trillion of Debt
Posted by Ryan in March 15th 2010
The Rangel & Geithner Tax Saga
Posted by Ryan in March 8th 2009
Mr. Geithner paid his back taxes from 2001-2004, paid the interest, but did not pay the penalty fee. That was waived by the IRS, the organization Geithner now runs as Treasury Secretary. This has business owners and employees alike wondering, “Can I get a piece of the ‘Geithner Rule?’”
under: Deficits, Dollar, Federal Reserve, Individual v. Collective, Live and Learn, Taxes, Treasury, Trust
Tags: accountant, Add new tag, budget, budget deficit, Charlie Rangel, Congress, currency, debt, Dollar, House Ways & Means Committee, IMF, IRS, real estate, tax avoidance, tax code, tax evasion, tax gap, tax shelters, Taxes, Tim Geithner
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