[Cboldt]

Baucus up. 96% of debt purchased from Dec 2004 through Dec 2005 has been by foreigners. Foreigners get the interest payments. Interesting discussion, international finance. Plenty of "spooky stuff" for both sides to use - keeping the people in fear of one thing or another ;-)

"Dependant on foreign capital ..." and he segues into the Dubai deal, as well as holding China away from certain investment.

Notes that the debt has increased during the last 6 years. Same old stuff, IMO. But since it's such a dry and esoteric subject, it won't even make for a good flame war. /sigh/

[Cboldt]

Baucus Amendment S.Amnd.3131 to have Treasury prepare a report that discloses to borrowers (we taxpayers) the total cost of their debt, as well as the effect of having the debt payable to foreign interests.

Who is loaning us this money? Foreign ownership is 2.2 trillion (of 8+ trillion). What share of taxes is being used to pay interest on the debt? Hell, that's KNOWN! He needs to passa law to get that? Idiot.

This is all pretty funny when viewed in light of the projected debt from 2007 to 2011 (see table of debt in multiple posts above).

[Txsleuth]

I have to admit...that my eyes glaze over when they start talking about these subjects...debt limits, .

But, if YOU say that Grassley was trying to make an interesting point...I will be glad to read the transcript...that is easier for me than trying to grasp it from a floor speech.

BTW, Baucus has GOT to be one of the most boring, monotonous speakers in the Senate...zzzzzzzzzzzzz