A proposed emergancy spending CUT of a trillion dollars would do a lot more for the economy than spending a trillion dollars of borrowed money.
Count on interest rates doubling in the next 4 to 8 months. When the Chinese say they want PAID a real return for funding our economy (instead of 1% or less) the brown waste product will hit the fan. Most of the US dept is financed at fixed rates with 2-4 year terms.
A run up in interest rates will be felt immediately by the nation government. Interest on the US debt is 8% of the budget - a return to "normal" interest rates (say 5%) increases the interest on the national debt to MORE THAN WHAT WE SPEND DEFENSE. Thats if interest rates only go back to mid 1990s levels - hardly high but still crushing to a high debt country addicted to borrowing. If they actually get "high" (in 1980 they were 15%) the federal debt explodes like a college kid's credit card debt.
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Today's Featured Article - The Ferguson System Principal An implement cutting through the soil at a certain depth say eight inches requires a certain force or draft to pull it. Obviously that draft will increase if the implement runs deeper than eight inches, and decrease if it runs shallower. Why not use that draft fact to control the depth of work automatically? The draft forces are
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