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Politics : Bill Clinton Scandal - SANITY CHECK -- Ignore unavailable to you. Want to Upgrade?

To: Ish who wrote (28702)1/20/1999 9:06:00 AM
From: DMaA  Read Replies (2) | Respond to of 67261
 
The question is at what rate should it be paid off. Too fast and you could trigger a nasty recession. It took 223 years to accumulate it, no reason it has to paid off in 2.

There are some reasonable arguments for government borrowing. For instance, when government builds a bridge that will be in use for the next 50 years, shouldn't the people who will be using it then share in the cost?

I wonder where the money now in the Govm't bond market would go if it were radically shrunk?



To: Ish who wrote (28702)1/20/1999 9:16:00 AM
From: Les H  Read Replies (2) | Respond to of 67261
 
It's about 150 million. The federal budget is over 1.7 trillion, possibly 1.9 trillion. He shifted most of the debt to short-term debt so that if interest rates go up, the debt goes up. The best use is to pay off the public debt since the Social Security debt securities are bogus and set at 2% APR. Better to pay off 7% treasuries.


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