PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: longnshort who wrote (754888)	11/23/2006 12:39:01 PM
From: pompsander	Read Replies (2) of 769670

"That wouldn't happen, people would still pour their money into the USA, they know what all the other countries are like" If we repudiate our debt, nobody would put another dollar in the USA without security other than "our word" that we will pay them back. The "riskless" USA would immediately move into the same catagory of high risk third world countries. For anyone to put money here under your master plan we would have to pay a risk premium in the form of hugely higher interest rates...which would kill our economy and make our debt all the higher. Not a plan I think we should consider.

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