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View Diary: The World sees our National Debt differently than Austerity Hawks do (23 comments)

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  •  Because issuing debt instruments is not necessary (2+ / 0-)
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    jamess, Nada Lemming

    for a monetary sovereign of a fiat currency with a floating exchange rate, just what "borrowing" means for such, is really the issue.

    And why people keep piling into treasuries.

    Tsys are a safe savings vehicle.

    Borrowing for the US is not like borrowing for a household.

    It's just a place people are choosing to put their excess dollars.

    The US could spend without issuing debt instruments.

    And the super low interest rate on bonds is counteracted by a small interest rate now being paid on reserves -- .25%

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