Government Obligations

Excellent article today at Minyanville, talking about the debt load of the US Government.   On top of all the current problems and the ongoing budget and trade deficits, there’s the HUGE gap in Medicare and Social Security funding.  From the above article: To pay future Medicare bills, the federal government would, today, need to set […]

You call this a plan?

Citigroup is trying to borrow their way out of bankruptcy.  According to Forbes, they are selling $2.5 billion in 30 year bonds – at a 6.875% interest rate!  For some perspective, any Tom, Dick, or Harry with decent credit can borrow money at a 5.90% for a 30 year fixed rate mortgage.  Why do you think […]