I say if they broke the law they get the same as the J6 protestors got. Seems fair...
Between June and September nearly 30% of the national debt will be refinanced. That mean the bond averaging a coupon of roughly 2.7% will now be paid out with new 10 years averaging nearly 5.5%. That's $11T at more than 2 times the interest rate.
Another 20% of the debt will be refinanced between the end of the year and next September.
If 50% of the debt resets at 2x the current interest rate then we will be paying more than Defense and Healthcare COMBINED.
That’s ok, just raise taxes and the US can pay their bills … no biggie, right?
If I played golf this would be me.
I’m sitting here completely anticipating what happened at the end. Was he not smart enough to know that’s what was going to happen?