rightwinger
Award Winning USMB Paid Messageboard Poster
- Aug 4, 2009
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What interest rate are we currently paying?
I bet its much less than the rate we paid when Ronald Reagan ran up the debt
Let us not forget the warning we got from Moody's a couple of weeks ago on our AAA-rating. If/when we lose that rating... interest rates will go up in order to get buyers for our paper. They're liable to go up a little bit anyway. Already, we have several corporate entities who are selling at lower rates. What that means essentially is that bond buyers consider a corporation like Lowes a better risk than the United States Government.
We do not have 900 billion to pay on interest. We don't have ANY money to pay on interest that we don't first have to borrow from someone else. We're borrowing money in order to pay for the money we already borrowed... with no end in sight.
I was just wondering what interest rate we pay on our debt, do you know?
I imagine that under Reagan it had to be over 10%