[Richard Kimball]

I don't know if anyone remembers, but Limbaugh spoke at length on one of his shows back in the 1990s about this going on at the Federal level. He stated that the drop in the Federal deficit was being facilitated by the Feds financing their long-term debt at short term rates, getting the lower rate, but with no guarantee that the rates wouldn't skyrocket later. This is one of the reasons the Feds CAN'T allow interest rates to go up, as the Federal government indebtedness would skyrocket.

Anyone expect the Feds to put a cap on interest rates sometime soon? BTW, who was president in the 1990s?

[SierraWasp]

Yes, I remember Rush talking about that very well, too!!! I also wonder what will happen to CA now that the "tax and spend" Dems have been superceded by the "borrow and spend" celebrity Repub Governator!!!

Neither Clinton's switching to short-term debt, nor Schwartzenswindler's switching from taxing to bondage is going to do any of us any real good in this coming dust storm. Maybe the "Grapes of Wrath" will be heading back to Arkie and Okieland, instead...