Top U.S. bankers have warned the Obama administration and Republican lawmakers that any move to pay interest on debt before obligations such as Social Security and payments to veterans would pose severe risks to financial markets and the economy, the Wall Street Journal reported.Reuters
Top U.S. bankers warn against prioritizing interest payments: WSJ
So much for that argument.
1 comment:
On the face of it, the political risk of paying unnecessary* usury to the rich at the expense of poor retirees is enormous and bankers are not that stupid, as parasites go. Even mentioning the possibility of that is extremely dangerous since it will cause people to wonder why a monetary sovereign should have to rent its own money supply from the rich.
*The US is monetarily sovereign and need NEVER borrow in the first place.
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