February 1, 2007

WHAT SHALL WE DO WITH THE SURPLUS:

Government may scale back borrowing (MARTIN CRUTSINGER, 1/31/07, AP)

The government, helped by a flood of revenue in recent years, said Wednesday it is considering scaling back its borrowing operations by possibly eliminating sale of three-year Treasury notes.

Anthony Ryan, Treasury's assistant secretary for financial markets, said that the government was considering various options with regard to the three-year note, ranging from changing the number of times it is auctioned each year to eliminating it altogether.


There is a far greater danger to the world economy from there being too little U.S. debt than to our economy from there being too much. And with big defense cuts coming it'll become a bigger risk. We need tax cuts fast.

Posted by Orrin Judd at February 1, 2007 12:33 AM
Comments

"Big defense cuts coming."

Ponder the presumptive arrogance.

If you will not prepare for war, war you will you have.

Posted by: Lou Gots at February 1, 2007 4:48 AM

Ponder the ignorance. When has preparing for war ever stopped one? What have cuts to do with preparedness? When has our being unprepared ever mattered to the outcome? We always cut in peacetime. We're a democracy.

Posted by: oj at February 1, 2007 7:39 AM

With the successful Chinese test of a ground-based destroyer of rudimentary satellites in low orbit, I don't think we'll be cutting back on defense anytime soon.

Especially after what the Dems did yesterday with cutting back on the latest BRAC closure list. They all "loathe the military," but love a nice Defense research facility.

Posted by: Brad S at February 1, 2007 8:36 AM
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