What’s really sad, is that the National Debt clock was actually retired in the year 2000. That was due to the surpluses the Clinton years generated.
This event forms the beginning of Krugman’s narrative, ‘The Great Unwinding”.
That’s a nice rewrite. During the Clinton administration the GROWTH of the national debt was stopped it was NOT retired; yet I admit, that was quite an accomplishment.
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Well, maybe this time they’ll get it right. They should have realized that anything under 10 trillion is just a drop in the bucket.
I’ve read that Credit Default Swaps are available on US Debt. It seems like a default would make collecting a serious problem.
Settlement day approaches for derivatives
http://www.ft.com/cms/s/0/6beabcdc-8f51-11dd-946c-0000779fd18c.html?nclick_check=1
What’s really sad, is that the National Debt clock was actually retired in the year 2000. That was due to the surpluses the Clinton years generated.
This event forms the beginning of Krugman’s narrative, ‘The Great Unwinding”.
That’s a nice rewrite. During the Clinton administration the GROWTH of the national debt was stopped it was NOT retired; yet I admit, that was quite an accomplishment.
Igor says: leery
OOps , sorry I misread your post. I can understand the clock being retired rather than the debt.
Igor says: lame
OUCH!