The Real Mitt Romney

[BigV]

Originally Posted by Adak

snip--

Our fiscal policies MUST be conservative, however. We just CAN'T keep spending a Trillion dollars we do not have, and have to borrow it from somewhere else, and then pay interest on it.

If that debt interest should ever increase by just a couple percent, we'd be in SERIOUS difficulty!!

I agree with you about the unsustainability of a policy that spends a trillion dollars a year more than we collect in revenues. We agree on that point, but I feel our views diverge sharply immediately after that agreement.

glatt's right. go re-read his post.

Also, the interest on any debt we have already incurred is fixed. It doesn't "increase by just a couple percent". Any increase in our borrowing costs will be known at the time we borrow, and frankly is set by the world attitude about the safety and reliability of return for money invested in Treasury Bonds. Do you know how much it costs to borrow this money? Take a guess.