Posts Tagged ‘Debt’
Dec. 25 (Bloomberg) — Treasuries fell, with the difference in yields between 2- and 10-year notes widening to a record amount, as investors bet the U.S. recovery will fuel inflation and reduce demand at the government’s debt auctions.
The 10-year note’s yield climbed to the highest level in four months as reports showed increases in sales of existing homes and orders for durable goods. The U.S. will sell a record- tying $118 billion of 2-, 5- and 7-year notes next week.
‘Inflationary Pressures’…
We have finally, as a nation, reached our debt wall. The point at which we simply must begin paying it back. The Federal Reserve, by artificially lowering interest rates is trying to stop us from paying down debt. Seriously, they want us out buying, even at a time when it is financially unwise and in many cases impossible for us to do so. Instead of looking to the states that get it right financially, our leaders appear to be following the same failed beliefs of more spending and more government intervention. Why not look at those who have succeeded and follow suit?
A series of bailouts, bank rescues and other economic lifelines could end up costing the federal government as much as $23 trillion, the U.S. government’s watchdog over the effort says – a staggering amount that is nearly double the nation’s entire economic output for a year.
If the feds end up spending that amount, it could be more than the federal government has spent on any single effort in American history.
For the government to be on the hook for the total amount, worst-case scenarios would have to come to pass in a variety of federal programs, which is unlikely, says Neil Barofsky, the special inspector general for the government’s financial bailout programs, in testimony prepared for delivery to the House oversight committee Tuesday.
The Treasury Department says less than $2 trillion has been spent so far.
I really thought this was an infromative interview, unlike the p.c. fluff we have here in the states’.
Wow, an actually informative interview. I guess we need to be more like China?
Bawhahaha: President Obama And Debt – The Market Ticker:
Oh really Mr. President?
May 14 (Bloomberg) — President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries. “We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”
Gee, you just figured that out? After roughly three months and change in office, it just dawned on you that after bleating about George W. Bush’s budget deficits, putting forward a budget with three times his projected deficit (and then exceeding THAT!) was unsustainable? Well then how come you pushed (and still back) the budget that led to this
Earlier this week, the Obama administration revised its own budget estimates and raised the projected deficit for this year to a record $1.84 trillion, up 5 percent from the February estimate. The revision for the 2010 fiscal year estimated the deficit at $1.26 trillion, up 7.4 percent from the February figure. The White House Office of Management and Budget also projected next year’s budget will end up at $3.59 trillion, compared with the $3.55 trillion it estimated previously.
Insanity. Pure insanity. Or pure George Orwell. You choose, dear reader. Mr. Obama proposed a whole $17 billion in budget cuts across a $3,500 billion budget? 1/2 of 1% Mr. President, and you call that “meaningful” reductions?