More interest compounds on debt

So let's go on another spending spree!!! Let's replace health care with a worse health care program! YEAH!

Our nation has been borrowing money to finance the spending spree the politicians have been on at the rate of about $1 trillion a year. And a lot of that borrowing has been done at lower rates. But now with the “stimulus” spending spree and the bailouts adding to a pile of newdebt on top of the debt pile that’s been growing for decades now the Treasury is suddenly faced with making some painful payments to our creditors.

Think a balloon payment on a subprime ARM mortgage, except with a $12 trillion principle.