Episode 139: Happy Deficit Day!
Words & Numbers
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The Miracle of Compounding Interest
Starting on October 4, every dime the federal government spends goes on the credit card. That means that one out of every $4 the government spends is on credit. A $60,000 household routinely puts about $15,000 a year on its credit card. Every single year without ever paying it down. And through the miracle of compounding interest, this is getting out of hand.
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