The Event Horizon

Posted on September 9, 2010 by Stan Guthrie

By Kevin McCarthy

The publicly held debt as a share of GDP will exceed 60 percent this year. According to the nonpartisan Congressional Budget Office (CBO), debt will reach 90 percent of GDP by 2020. The interest on this debt alone will be $916 billion annually, meaning that one in five tax dollars will be dedicated to making interest payments. By 2022, interest payments on the national debt will exceed yearly defense spending, and by 2037, yearly interest expenses will be double those of spending on defense — this is the same year the Social Security trust funds are expected to be exhausted.

About Stan Guthrie

Stan Guthrie is an editor at large for Christianity Today magazine and for the Chuck Colson Center for Christian Worldview. His latest book is God's Story in 66 Verses. He also is author of All that Jesus Asks: How His Questions Can Teach and Transform Us, Missions in the Third Millennium: 21 Key Trends for the 21st Century, and A Concise Guide to Bible Prophecy. He is co-author of The Sacrament of Evangelism. Besides authoring, writing, and editing books, Stan is a literary agent, bringing together good authors, good books, and good publishers. Stan writes the monthly Priorities colum for BreakPoint.org. He has appeared on National Public Radio's €œTell Me More,€ WGN's Milt Rosenberg program, and many Christian shows, including The Eric Metaxas Show and Moody Radio'€™s €œNew Day Florida.€ A licensed minister and an inspirational speaker, he served as moderator for the Christian Book Expo panel discussion, Does the God of Christianity Exist, and What Difference Does It Make?
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