November 15th, 2005, 12:42 PM
The latest national debt projections are pretty grim. Based on current spending vs. revenue figures, the national debt will grow by more than $3 trillion over the next five years to $11.2 trillion -- that's nearly $38,000 for every man, woman and child in the United States, regardless of whether they pay taxes or not. The annual interest payment on debt of that magnitude? $561 billion. That's what we spend on our entire defense program.