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To: lorne who wrote (26886)	1/23/1999 7:41:00 PM
From: donald martin	Read Replies (1) \| Respond to of 116857

<<If called upon how would / could the USA service its debts.>> I could come up with a bunch of REALLY silly answers. Oh, hell, I just can't resist... (1) Seize all rights to CNN's coverage of the Gulf War and start peddling tapes of the coverage for $19.95. (I never signed a release for the news media to use my likeness while I was in the Marines. I'm sure no other service man/woman did either. They might have a case.) (2) Lease an aircraft carrier group or two to Bill Gates to enforce his own copyright issues in China. (Personnel are extra, of course.) (3) Invite all of our foreign debtors to Montana for a little "default work out" session with the locals. (4) Make all Super Bowl broadcasts outside of the US pay per view. (5) Redeem all of our empties at some foreign financial institution yet to be named. (6) Offer to let them foreclose on Cleveland, OH. (But, they gotta pay shipping.) Shame to stop. I'm just getting warmed up.

To: lorne who wrote (26886)	1/23/1999 11:45:00 PM
From: Hawkmoon	Respond to of 116857

Lorne, A quick answer... The US services its debts through the sale of its gov't bonds, both domestically and to foreigners. Undermine the dollar, and its ability to service its debts come into question. That is why I believe the entire budget "surplus" should be rolled back into paying down principle on the Federal debt. So long as the Dollar remains one, if not the only global reserve currency, investors will buy gov't bonds on the expectation that they will eventually be repaid. (some 23% of the Federal budget is service on the national debt.). Regards, Ron