Was reading recently that $24 trillion of the national debt matures within 2 years..
Also $12 trillion in Government mortgages that are not included in the national debts as they are off the books debt comes due within 2 years.
There are five different types of federally-backed mortgages:
FHA
VA
USDA
Fannie Mae
Freddie Mac
These mortgages are low rate fixed for 30 years.
The government borrowed short term and lent long term.
The interest rate paid out is already double what they lent it out for fixed rate. Thus if the long term mortgage receivable is 3%-4% and the short term debt rate is 6% to 8%, the government must make up the difference by subsidizing the mortgage companies. This could be a big surprise hit later this year.
No....if the conservatives try to cut spending on ANYTHING they will never get elected again...They will vote for another bloated omnibus budget bill they say they don't agree with just to keep the government from shutting down....Heaven forbid!
and get elected again as the “ Loud and Loyal Opposition”.....its been a Win-Win ticket for them ALL once they get to DC..