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Obama Economist Solution: Borrow More Money

Corbett_ Wrote: Jun 06, 2012 1:26 PM
If government can lock in long term low interest rates it makes sense to refinance the short term debt into long term debt. In other words, If we can borrow at the same rate for 10 years that we can borrow for 90 days, it makes sense to turn all of our 90-day notes into 10 year notes. Other than that, the government should not borrow another penny.

Writing in today’s Washington Post, former Obama economist Larry Summers put forth the strange hypothesis that more red ink would improve the federal government’s long-run fiscal position.

This sounds like an excuse for more Keynesian spending as part of

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