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Thanks for the links.
Here is a brief comment- Michael wrote: What I did notice was the rate of debt increase slowed in the 90's. I would attribute this to the increased sale of US Gov't financial instruments use to finance the annual shortfalls Sigh... another basic fact of economics wrong. When the Federal Reserve sells financial instruments, (T-bills and T-bonds), the US debt does not change. Those instruments have already been issued, the debt has already been incurred. What changes is the money supply, often referred to as M1, M2, or M3. http://www.econlib.org/library/Enc/MoneySupply.html Don't thank me, it's what I'm here for! If you want to see some interesting economic facts that are not in any public discussion I'm aware of, see http://www.ny.frb.org/aboutthefed/fedpoint/fed49.html Be interesting to see what happens when those come due. US debt has been coming due now for the past 200+ years. So far only very little doubt about Uncle Sam honoring his debt obligations... but it is certainly possible that we will see double digit inflation again. That will be quite a shock to Gen-X and the younger crowd! Regards Doug King |
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