DrillBabyDrill
New member
- Jul 1, 2010
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...National Debt back in the 2000's? "...the more important issue is the potentially rising cost of retiring marketable Treasury debt. While shorter-term marketable securities could be allowed to run off as they mature, longer-term issues would have to be retired before maturity through debt buybacks. The magnitudes are large: As of January 1, for example, there was in excess of three quarters of a trillion dollars in outstanding nonmarketable securities, such as savings bonds and state and local series issues, and marketable securities (excluding those held by the Federal Reserve) that do not mature and could not be called before 2011. Some holders of long-term Treasury securities may be reluctant to give them up, especially those who highly value the risk-free status of those issues. >>>>>>Inducing such holders, including foreign holders, to willingly offer to sell their securities prior to maturity could require paying premiums that far exceed any realistic value of retiring the debt before maturity.<<<<<<"
Testimony of Chairman Alan Greenspan
Outlook for the federal budget and implications for fiscal policy
Before the Committee on the Budget, U.S. Senate
January 25, 2001
http://www.federalreserve.gov/boarddocs/testimony/2001/20010125/default.htm
Testimony of Chairman Alan Greenspan
Outlook for the federal budget and implications for fiscal policy
Before the Committee on the Budget, U.S. Senate
January 25, 2001
http://www.federalreserve.gov/boarddocs/testimony/2001/20010125/default.htm