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Reply #49: we seem to be talking at cross purposes here [View All]

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anigbrowl Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-19-09 03:40 PM
Response to Reply #43
49. we seem to be talking at cross purposes here
Edited on Thu Nov-19-09 03:40 PM by anigbrowl
I don't disagree with you, but in practice paying down $200b means not rolling over existing debt, no? Put another way, if this scheme goes ahead, who is the recipient of the $200 billion? And getting back to the main point, why would it be preferable to keep paying interest on that sum? I'm willing to agree with you if you can suggest where we should spend the money that would give the treasury an ROI greater than the cost of the debt it's proposing to retire.
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  -President wants to use left over TARP to pay off national debt AllentownJake  Nov-19-09 10:32 AM   #0 
  - What a wasteful idea!  kentuck   Nov-19-09 10:35 AM   #1 
  - maybe i am missing something here  ProdigalJunkMail   Nov-19-09 10:37 AM   #2 
  - Just like GM "paying back" borrowed money with borrowed money--it's a hokey PR stunt. nt  Romulox   Nov-19-09 10:39 AM   #4 
  - indeed ...  ProdigalJunkMail   Nov-19-09 10:40 AM   #7 
  - +1  Moondog   Nov-19-09 12:18 PM   #23 
  - Wrong, completely wrong  anigbrowl   Nov-19-09 01:58 PM   #39 
     - Yes it did. Federal regulations required the Treasury to issue new deb when TARP was signed.  Statistical   Nov-19-09 02:09 PM   #43 
     - we seem to be talking at cross purposes here  anigbrowl   Nov-19-09 03:40 PM   #49 
     - You're simply flat out incorrect on this point. nt  Romulox   Nov-19-09 02:14 PM   #44 
  - It is a political move  AllentownJake   Nov-19-09 10:40 AM   #5 
  - I think that was a terrible slip by the Admin, alas  Dreamer Tatum   Nov-19-09 11:24 AM   #14 
  - You misunderstand how this works  anigbrowl   Nov-19-09 01:55 PM   #36 
  - That's not really paying anything down--it's borrowing money to pay a different creditor  Romulox   Nov-19-09 10:38 AM   #3 
  - No it isn't. It's returning money to the original creditor.  anigbrowl   Nov-19-09 02:00 PM   #40 
     - WRONG. Federal T-bonds are non-callable.  Statistical   Nov-19-09 02:17 PM   #45 
     - Your question doesn't even make any sense...  Romulox   Nov-19-09 02:37 PM   #46 
        - You're the one who suggested it was borrowin from one creditor to pay another  anigbrowl   Nov-19-09 03:33 PM   #48 
           - When TARP passed.  Statistical   Nov-19-09 08:01 PM   #51 
  - What a stupid idea , yeah , if this flies then are we to believe that the fed can ...  UndertheOcean   Nov-19-09 10:40 AM   #6 
  - That last sentence says a lot...  shraby   Nov-19-09 10:50 AM   #8 
  - It is probably an intentional leak  AllentownJake   Nov-19-09 11:23 AM   #13 
  - Sounds good to me...n/t  orwell   Nov-19-09 11:02 AM   #9 
  - Reall the TARP money was borrowed so we will borrow to pay down borrowed money.  Statistical   Nov-19-09 11:09 AM   #10 
  - we will not be paying down anything  marketcrazy1   Nov-19-09 11:13 AM   #11 
  - Not true.  Statistical   Nov-19-09 11:22 AM   #12 
     - it`s all circular  marketcrazy1   Nov-19-09 11:52 AM   #18 
        - US Treausry bills are not callable by either the holder or the US govt.  Statistical   Nov-19-09 12:14 PM   #21 
           - thanks for that  marketcrazy1   Nov-19-09 12:34 PM   #27 
  - The administration is taking the debt talking points seriously  AllentownJake   Nov-19-09 11:28 AM   #16 
  - That has to be the dumbest idea they've had yet.  TexasObserver   Nov-19-09 11:26 AM   #15 
  - I can think of a few stupider things  AllentownJake   Nov-19-09 11:38 AM   #17 
     - It indicates a reality that is out of touch...  kentuck   Nov-19-09 11:55 AM   #19 
  - This makes sense to me.  rucky   Nov-19-09 12:00 PM   #20 
  - That is a decent argument  AllentownJake   Nov-19-09 12:15 PM   #22 
  - Congress already controls the purse string though.  Statistical   Nov-19-09 12:23 PM   #26 
  - Give them an excuse to spend another 200 billion  AllentownJake   Nov-19-09 12:49 PM   #29 
  - Yes - we were better off during the Golden Age of GWB and the vibrant GOP economy  jpak   Nov-20-09 09:55 AM   #56 
  - It would only make sense if we had a balanced budget and surplus projected for next couple years.  Statistical   Nov-19-09 12:18 PM   #24 
  - I agree.  kentuck   Nov-19-09 12:20 PM   #25 
  - Frightening that he feels the need to hide money  JonQ   Nov-19-09 01:47 PM   #35 
  - how can you use borrowed money to pay off the debt?  yurbud   Nov-19-09 12:35 PM   #28 
  - So we borrow money to pay off our debt  JonQ   Nov-19-09 12:52 PM   #30 
  - Many, many, many countries have done that in past.  Statistical   Nov-19-09 01:06 PM   #32 
     - It would be devastating for economy  JonQ   Nov-19-09 01:46 PM   #34 
        - Oh agreed it would instantly throw us into the third world.  Statistical   Nov-19-09 02:08 PM   #42 
  - Peter meet Paul. Or, "How to Juggle Credit Cards Made Easy."  Tierra_y_Libertad   Nov-19-09 12:57 PM   #31 
  - ## PLEASE DONATE TO DEMOCRATIC UNDERGROUND! ##  DU GrovelBot   Nov-19-09 01:06 PM   #33 
  - Ask the Federal Reserve, I hear they have an extra $200bn coming to them :-)  anigbrowl   Nov-19-09 02:06 PM   #41 
  - I vote for infrastructure overhaul and paying off individual's mortgage debt.  Wapsie B   Nov-19-09 01:55 PM   #37 
  - Unbelievably stupid!  kentuck   Nov-19-09 01:57 PM   #38 
  - WTF?! Why the hell doesn't Obama do something directly FOR the people with that money?!  earth mom   Nov-19-09 03:18 PM   #47 
  - Reducing the national debt means that less of your tax dollars go to interest payments  anigbrowl   Nov-19-09 03:49 PM   #50 
     - Clinton balanced the budget WHICH lead to a surplus and allowed the debt to be paid down.  Statistical   Nov-19-09 08:09 PM   #52 
     - You mean the CHUMP CHANGE that some taxpayers now have to PAY BACK?  earth mom   Nov-20-09 11:00 PM   #58 
  - That shows a lack of understanding of just what the USD is.  L0oniX   Nov-19-09 08:12 PM   #53 
  - Meanwhile, there's another trainwreck coming  chill_wind   Nov-20-09 08:46 AM   #54 
  - Yes. Be good little Democrats and pay down the debt...  kentuck   Nov-20-09 09:46 AM   #55 
  - This is insane.....  Cyrano69   Nov-20-09 10:03 AM   #57 
 

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