Federal Debt as a Ponzi Scheme

I've asked this question before: If you had a deadbeat cousin who was asking you for money and you knew that he needed the money to simply pay the interest on his preexisting debt, would you loan him the money?

Keep this in mind as you read this article, including the fact that just the interest on our national debt will go from $200bn this year to $700bn by 2019. The incremental $500bn is more than the combined federal budgets for education, energy, homeland security and the wars in both Iraq and Afghanistan. Obama has got us to the point where we will be borrowing just to pay the interest on our national debt. Can anyone say "Ponzi Scheme"?

From the American Enterprise Institute: