The Bush administration's latest budget projects a deficit of approximately $400 billion for the coming year. Interest on the national debt is about $400 billion per year. In other words, our federal government is borrowing money to pay the interest on money previously borrowed.

Our total interest on the national debt is now more than $1 billion per day. The national debt, presently $9.2 trillion will soon be $9.6 trillion, as projected by the Bush administration. The national debt is now more than $30,000 per person, or $120,000 per family of four. The interest payments on the national debt are about $1,200 per person per year, or $4,800 per year for a family of four.

Vice President Cheney has stated, “Reagan proved that deficits don't matter.” Indeed!

Richmond Parker

Auburn