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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Patricia Trinchero who wrote (147742)5/23/2001 12:57:17 PM
From: gao seng  Respond to of 769670
 
There is so much cash flowing into the Treasury from tax revenues that every working day, on average, the federal government pays off another $1 billion in loans that it has made over the past three decades. The loans are in the form of U.S. Treasury debt securities—bonds, notes, and bills. In the past, when those securities matured, the Treasury (since it didn’t have the money) would simply roll them over—that is, pay off the old bondholders and issue new debt, typically in a higher amount.
aei.org



To: Patricia Trinchero who wrote (147742)5/23/2001 1:36:17 PM
From: aknahow  Read Replies (2) | Respond to of 769670
 
Going on a spending spree once the debt is paid off is an argument for not paying it off!

The debt is owed to all who own t bills, notes and bonds. About 40% of total debt is held by foreign governments. China is one of the biggest holders of U.S. government debt.

When we buy more from countries than we sell them the dollars neted are invested in large part in U.S. debt securities.


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