> Current 10-year T-bill rates around 3% per year mean
The fed is buying most of them now. The fed can keep doing that "forever", but that doesn't mean that our trading partners will keep selling us stuff cheap.
Yes, the US is doing better than many countries, but that's not the same as good.
> not borrowing as much as possible now seems downright stupid.
It depends on what you do with the money you borrow. Spending it on beer and skittles is different than investing it in something that will give a decent return, or even saving it as part of an interest rate prediction.
And yes, I objected when Bush pushed through his $1T prescription drug monstrosity and other things. That said, the last yearly deficit with a Repub congress was about the same as the current monthly deficit. Starting from Bush's hole, it seems silly to dig faster.
The fed is buying most of them now. The fed can keep doing that "forever", but that doesn't mean that our trading partners will keep selling us stuff cheap.
Yes, the US is doing better than many countries, but that's not the same as good.
> not borrowing as much as possible now seems downright stupid.
It depends on what you do with the money you borrow. Spending it on beer and skittles is different than investing it in something that will give a decent return, or even saving it as part of an interest rate prediction.
And yes, I objected when Bush pushed through his $1T prescription drug monstrosity and other things. That said, the last yearly deficit with a Repub congress was about the same as the current monthly deficit. Starting from Bush's hole, it seems silly to dig faster.