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First recorded activity by BoatBanter: Sep 2008
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Default What if Obama gave an auction...

and nobody came?

http://www.google.com/hostednews/ap/...WZGdQD981KVDG4

The budget projections have to consider interest payments on all of
the debt Obama planned to buy while running deficits, and any hike in
interest rates means that those interest payments will have to go up.
That also means that we will have to spend more money than Obama
projected, creating even higher deficits and the need for even more
bond sales — and more interest payments on those.

It’s basically a Ponzi scheme, and it’s accelerating.

And the taxpayer is on the hook.

One of two things will have to occur to resolve the situation. Either
Obama's administration and the Demomorons in Congress will have to
massively cut spending in order to service all that debt at the higher
interest rates now demanded, or it will have to pass massive new taxes
in order to generate enough revenue to accomplish it.

Which one of the two do you think The One is likely to try?

Heh - Bernie Madoff should be jealous of Obama.
 
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