You Get What You Pay For

By |2014-09-04T17:12:45-04:00February 27th, 2009|Global Market Update|

Wow. 1 point 7 trillion. Now that's audacity. President Obama's projected budget deficit is expected to be seven percent of the economy over the next four years. For the moment, it won't cost that much because US interest rates are so low. Borrowing 1.7 trillion now is like borrowing 800 billion a few years year ago. It's not the money so much as paying for the money that really matters. But it also matters, when you borrow, what you are doing with the money. [...]