Posted on 08/04/2016 7:54:59 AM PDT by ChicagoConservative27
We have low interest rates becauuse there is no demand in Obama's great recession.
Rates have been driven lower since the 80s to support continued deficit funding. We could never have gone from $3T to $20T if rates stayed above 6-7%. Steadily reducing rates the last 25 years allowed ever increasing debt load to be serviced.
Average rates on a T-bill go above 4-5% and the whole game blows up. Negative rates do it too.
This is well beyond Zero.
I agree that we should no longer offer new employees such good benefit programs. However, for those that have worked under the old system they should retire under that old system. I know that Congress determined that the old Civil Service Retirement program was too generous. So they created a new program that was not so generous and applied it prospectively. Congress later reduced it some more, again applying that prospectively.
Eliminate it. We are bankrupt.
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