"Gross interest on the debt will continue to rise substantially over the next 5 years from $360 billion in 1997, to $412 billion by 2002, and by 2007 just the interest on the debt is projected to be $483 billion This $493 billion is just $50 billion shy of our entire discretionary budget for the current fiscal year" (Hatch S1152-1187). ... When the government has run a debt so large that it spends an enormous amount of money on interest alone, it is wise policy to want to eliminate that financial burden and allocate the money to more beneficial projects. ... First of all, taxes are already ver...

• Word Count: 1856
• Approx Pages: 7
• Grade Level: High School