In a CNBC “Squawk Box” interview of Steven Mnuchin, the next Treasury Secretary, Steve brought up the idea of creating a super-long bond. The debt is so enormous that the only way to deal with it is to extend the payback date when a significant portion of that debt becomes due. Steven Mnuchin told CNBC…
The US national debt just broke above $19.5 trillion. Both Democrats and Republicans are to blame, but it is important to note that President Obama and Democrats increased the national debt more than all President’s before combined.
George Bush exploded the national debt by $3 trillion in response to an imploding economy and 911. (Read More….)
The velocity of money has hit the lowest level ever recorded as I wrote about here. I believe the crowding out effect is at least partially to blame for the slowdown in the velocity of money.
President Obama has run the national debt up to nearly $20 trillion, more than all President’s before him combined. (Read More….)