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Jul 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.

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