It doesn’t count cuz it doesn’t cut taxes.

From Think Progress today:

U.S. Receives Record Demand For Its Bonds Under Obama, Helping The Deficit |    Bloomberg News reports that the U.S. government received record demand for its bonds in 2011, “pushing longer-maturity treasuries to their best performance since 1995 in a sign that President Obama may have little difficulty” financing the budget deficit. The European debt crisis is driving investors to buy U.S. assets, allowing the government to get an “all-time high bid-to-cover ratio of 9.07 for $30 billion of four-week bills it auctioned on Dec. 20 even though they pay zero interest.” Despite the GOP’s factually-challenged fear-mongering about the deficit, the high demand for U.S. bonds are “helping to contain borrowing costs and making it cheaper as a percentage of gross domestic product to finance deficits than when the nation last had budget surpluses.”

3 responses to “It doesn’t count cuz it doesn’t cut taxes.

  1. Even so…it’s still borrowing, still debt. Would help if the Congress that is so obsessed with making this government fail would get past their nearsightedness and raise the high income tax percentage just a tad. Would make all the difference in the world. And the irony is that those with the highest income say they are willing to pay higher tax. All so stupid. Let’s cut unemployment benefits…raise taxes on the poor!

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  2. Woodstock the GOP is trying as hard as it can to starve the Economy so Obama gets the blame….

    They’re all millionaires what do they care?

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  3. Pingback: It doesn’t count cuz it doesn’t cut taxes...Whatever Works...

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