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The real cost of the U.S. debt is nearer the floor than the ceiling


YahooFinance/Ben Holland, Capo McCormick and Alex Tanzi/10-4-2021

“The Fed has a mandate for stable prices and maximum employment, with no mention of debt. Still, there’s more than one reason why analysts think the Fed is now in the business of helping to manage the government’s debt costs.”

USAGOLD note: We do not recall any legislative mandate or presidential order expanding the Fed’s mandate to keeping a lid on the cost of managing the carrying cost on the national debt through a permanent version of quantitative easing. Wall Street, though, according to this article, seems to believe that there is. The Biden administration, we are certain, would not quarrel with adding it to the mandate. Who really believes that the nearly $4.5 trillion in new federal spending (including the $3.5 trillion ‘human infrastructure’ bill) can be paid with new tax levies? Once again, Ramirez gets to the heart of the matter ……

Ramirez cartoon debunking zero cost zero impact spending bill

Cartoon courtesy of MichaelPRamirez.com

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