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July 06, 2011


DC O'Connell

There are some pretty valid arguments that the whole debt limit is unconstitutional, Congress voted for the spending already, now they need to approve it a second time? Beside that issue -
Remember that most of the new public debt since 2007 was created to shift private debt away from financial institutions. Fanny Mae and Freddie Mac had debts of ~$5T when we took them over (at the time our National Debt was $9.5T) in 2009. That does not include the Trillions of dollars extended to banks, insurance, and auto companies.

Tyler Newton

The bond vigilantes are so freaked out by all this that they are now demanding the usurious rate of 2.95% on our 10 year bonds!

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