Hugh Jidette is running for president on the "deficits are good" platform
Hugh Jidette, aka huge debt, would like the American people to know just how great the federal deficit crisis is. That is great as in very good.
The federal government has accumulated over $13 trillion in debt with an annual interest expense alone of $200 billion. The debt number, unless some steps are taken, will grow very quickly to an even more unsustainable level.
The annual interest expense is huge with rates currently at extremely low levels. If and when rates rise as a consequence of inflation or if our overseas borrowers demand more return for their perception, or the reality, that US debt is a more risky proposition, that $200 billion will grow ever larger.
That is why Hugh Jidette or other politicians of a similar ilk regardless of party affiliation cannot be allowed to win in 2012.