Comment: Think about it this

(See in situ)

In reply to comment: jetguy writes: "We already (see in situ)

Think about it this

Think about it this way...

The US in total has 58 trillion of public debt. 16 from federal, 3 from state and local, 16 from household/credit card/student, and 23 from corporate debt.

If interest rates went up 1%, that would be a big cost to the economy

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a