The link isn't coming up, server not found problem. I'll try it again later.
I believe all of the middle class tax cuts will be more than offset by:
Alternative Minimum Tax
Increased state and local taxes
Increased fees of one sort or another
Increased energy costs
Pimco says get out of US treasuries:
forbes.com
"Bill Gross, manager of the world's largest bond fund, in his April investment outlook recommended dumping Treasuries as the U.S. economy reflates and investing in government bonds in other areas further from recovery, such as the euro zone or Britain.
Gross, managing director at Pacific Investment Management Company or PIMCO, said not only were overseas sovereign yields higher than Treasuries, but future price erosion would be limited as reflation in these areas was not as advanced.
"In short, I recommend getting the hell out of Dodge City, USA and reinvesting in London and Frankfurt," Gross said.
"Construct an 'ABT portfolio': Anything But Treasuries, and hand those Old Maid Treasury bonds to the Japanese and the Chinese or any other country whose domestic growth concerns dominate their investment common sense," he added.
Japan and China are the largest and second-largest overseas holders of U.S. Treasuries, respectively.
Both have intervened on a massive scale in the foreign exchange markets in the last year to shore up the dollar and are believed to have spent the cash on U.S. government debt...."
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$300b+ interest payments ---geez, they have it down to the penny
publicdebt.treas.gov |
