Meanwhile, even the NY Times is worried that the Obama administration's borrow and spend track is unsustainable:
As the Obama administration racks up an unprecedented spending bill for bank bailouts, Detroit rescues, health care overhauls and stimulus plans, the bond market is starting to push up the cost of trillions of dollars in borrowing for the government.Who will buy? Who can afford it? In Obama We Trust?
Last week, the yield on 10-year Treasury notes rose to its highest level since November, briefly touching 3.17 percent, a sign that investors are demanding larger returns on the masses of United States debt being issued to finance an economic recovery. [snip]
Then there is the concern that the interest the government must pay on its debt obligations may become unsustainable or weigh on future generations.
P.S. Related--The American Spectator questioning Uncle Barney Frank's vision on systemic regulation--because he did such a great job.
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