The real long-term budget challenge, according to Bruce Bartlett: interest on the debt. Interest...

|By:, SA News Editor

The real long-term budget challenge, according to Bruce Bartlett: interest on the debt. Interest rises from 6.1% of the federal budget in 2012 to 12.9% in 2020, 21% in 2030 and 59% if current projections are maintained through 2082. Federal entitlement programs pale in significance, he says, and "the idea that we are facing a crisis is complete nonsense" - it's all about the interest.