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Politics : PRESIDENT GEORGE W. BUSH
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To: TimbaBear who wrote (118487)12/21/2000 2:43:56 AM
From: Neocon  Read Replies (1) of 769670
 
No, again you misunderstand. I was contemplating the case of trying to call bonds that had not been sold as callable, which I suppose to be the vast majority of bonds. Even supposing it were possible to call bonds that had not been sold as such, it would harm the reputation of the US. Thus, I reason that we could not make a major dent in the national debt through the calling of securities, leading back to my earlier scenario. By the way, why do you think Gore referred to the "lockbox" if we could just willy- nilly start paying off bonds at our discretion?
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