QUOTE (Balta1701 @ Dec 15, 2010 -> 01:22 PM)
Tex, the short and medium term interest rates right now are still at near record lows, and a huge chunk of the money spent on interest right now is being paid to the federal reserve which owns the bonds, and thus just puts money right back into the government.
So then defense, social programs, or infrastructure offer a worse place to spend tax dollars? What if we didn't have interest to pay? What would we do then?