The Daily Opportunity Cost of Interest Expense
by Matthew Madia, 9/21/2006
According to the House Budget Committee Democratic Caucus' Materials for Five-Minute Speeches on the Budget, released Tuesday, federal government spending on publicly held debt is $504 million every single day.
What could we do with today's worth of interest expense alone, if we didn't owe it to our creditors? We could:
- hire 8,930 new airport security agents
- increase the solvency of Social Security by half a billion dollars
- give every college freshman $342 in tuition assistance
- provide full health care benefots to 71,479 more veterans
