HARTMAN: $4,800,000,000,000.00 (Just put it on my tab)

Commentary by Shawn Hartman

That really big number —  $4.8 Trillion —  is the INTEREST that the U.S. must pay to cover our debt. JUST INTEREST!

Believe me, just like you, I shook my head when I saw the amount. Now, the amount, although it is hefty, is not as bad as it could be. The borrowing and spending really did help us out of what could have a much heavier disaster. (Believe it or not!)

But, at that sky-high cost, you would think the interest rate would be “fixed” so to speak. It’s not. It’s variable. $48,000,000,000. That’s 1% of the interest only. Even at 0.5%, that’s still a huge $24 Billion.

But, most importantly, how does this relate locally? Well, think about it a little. We’ll all have to help pay this “bill.” All of the U.S. income tax would have to be used for six years to pay that off.

How much would you donate? Feel free to comment below.

Quote of the Week: “There are only two certainties in this world- death and taxes” – Unknown

HARTMAN: So How Much Did You Lose?

Financial Commentary by Shawn Hartman

As I continue to ask a heart breaking question, “How much did you lose in the markets?,” I seem to gather the same response continuously, “Around 40%.”