I think they are taking credit now and hoping no one notices the actual results when they come in... if the variances are poor they will spin the next overly optimistic forcast and pooh-pooh the current (past) results. If they do hit forcast and is not as bad... look for them to be on a carrier somewhere... 'Mission Accomplished'.
You'd think Ken Lay was Treasury Sec'ty or something....
I wonder if you could convince someone at the West Virginia office to do an analysis of growth in the Federal Debt based on higher interest rates.
Similarly, there should be a quick way to factor in higher yields for U.S. treasuries (new and rollover) to provide an estimate of the crowding effect that will have on U.S. budget discretionary spending.
I assume that Treasury or Fed has run this drill.
The higher bond yields on new or rollover federal debt will wipe out some of the discretionary spending very quickly as the interest payment obligations rise, displacing some of the budget currently representing discretionary spending. It could be a major hit.
I think they are taking credit now and hoping no one notices the actual results when they come in... if the variances are poor they will spin the next overly optimistic forcast and pooh-pooh the current (past) results. If they do hit forcast and is not as bad... look for them to be on a carrier somewhere... 'Mission Accomplished'.
You'd think Ken Lay was Treasury Sec'ty or something....
Yes, df.
Nice graphic. Dry fly said it all.
The structural deficit will worsen in coming years. we have seen to this in our tax structure changes. The rest is political show.
CR,
I wonder if you could convince someone at the West Virginia office to do an analysis of growth in the Federal Debt based on higher interest rates.
Similarly, there should be a quick way to factor in higher yields for U.S. treasuries (new and rollover) to provide an estimate of the crowding effect that will have on U.S. budget discretionary spending.
I assume that Treasury or Fed has run this drill.
The higher bond yields on new or rollover federal debt will wipe out some of the discretionary spending very quickly as the interest payment obligations rise, displacing some of the budget currently representing discretionary spending. It could be a major hit.
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