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Re: Election 2010: Teabaggin' the Ds & Rs
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Originally Posted by Cletus Miller
So, everyone expects SS to sell the bonds on the open market? Assuming that these have higher coupons than the current-issue bonds, doesn't that mess with our current year general fund debt issuance?
Also, note that the $14T does *not* include the $5T+ of mortgage debt held by GSEs which ain't worth anything close to that. There's genuine potential of that being a backdoor $1T plus in additional federal debt.
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How does SSTF sell bonds on the open market? Who would buy those bonds? SSTF has no ability to raise revenue on its own, and its commitments appear to outstrip its resources.
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Where are my elephants?!?!
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