Federal Debt: How To Lose A Trillion Dollars.

Everyone knows that the federal deficit is a real and growing problem. It's so large, however — $12 trillion and spiking rapidly — that it can seem abstract. That's about to change. Serious consequences associated with deficit spending have long seemed like far-off problems, but they are now likely to hit the country with considerable force within the next several years. One is servicing the debt itself. Most people don't pay much attention to the interest payments the federal government makes every year. They haven't had to. Debt service has been manageable, thanks to low interest rates and consistent economic growth...Link