Monday, July 20, 2009

Borrowing Costs Per Legislator

Consider borrowing $1 billion. This costs $40 million/year at 4%.

There are 535 congressmen and senators. That is $75,000 each per year, without paying back any of the principal loan.

This year, the US is borrowing about $2 trillion. The cost of this is $150 million per federal legislator, per year.

Let's just pay the legislators a few million more per year in salary, if they will stop borrowing money.

No comments:

Post a Comment

You can use the HTML tags <b> <i> and <a href="">, but not <p>. Trouble commenting? Email your comment or problem to Commerce-Try at Leave out the minus sign. Mention the name of the post in the email.