[YHAOS]

Fine Zach . . . You can pay my share of the debt . . . when/if it comes due.

[marktwain]

What neither side seems to recognize — or at least acknowledge — is that what matters about the debt isn’t the dollar amount per se, but how much it costs us to service it.

That is because the interest rates are at amazingly, historically low levels at the moment. It is virtually impossible to keep those rates that low for a long period of time. In fact, when the rates rise to historical levels, the amount required to service the debt explodes.

[poinq]

Does anyone get that the Chinese have a lot of 2yr and 5yr T-bills. If all we sold were 30 year's we could live with a low rate. But the rates can move up fast. And frankly, if the Fed did not jump in, as they have, the rates would be higher.

This guy does not know anything about the bond market. And he has not watched Greece. Their rates were lower and as their debt grew the rates moved up. Then the rollover interest started to snowball and here we are. Disaster.