top | item 33436005

(no title)

clashmoore | 3 years ago

To add a sarcastic comment, the US could just increase its military spending to outspend the interest payment then to solve the issue.

discuss

order

BitwiseFool|3 years ago

I had no idea members of Congress browse and post here on HN!

neilwilson|3 years ago

Or even more radical simply stop issuing Treasuries and just run an overdraft with the Fed.

Paying interest is entirely a policy choice. Congress can change the rules of the game if it wants to and can stop paying anything.

After all what is the justification for paying banks and financial companies additional interest income when benefits and pensions need uprating?

jallen_dot_dev|3 years ago

> Or even more radical simply stop issuing Treasuries and just run an overdraft with the Fed.

> Paying interest is entirely a policy choice. Congress can change the rules of the game if it wants to and can stop paying anything.

Simply destroy the credibility of the US to pay its debts.

AuryGlenz|3 years ago

Who has the second biggest Fort Knox? Let’s just send the military there and take the profits to offset our debt. Easy.

Victerius|3 years ago

This but unironically. The 355 ship navy and 386 squadron air force won't build themselves. All those HIMARS, NASAMS, Stingers, Javelins, and counter battery radars we sent to Ukraine also need to be replenished.

walljm|3 years ago

The vast majority of our defense spending is Salaries for US Service Men and Women. And they are under paid in many cases. Just bumping the salary of the bottom ranks would likely shift the spending ratio.

(you can verify this by digging into the monthly treasury statements: https://fiscaldata.treasury.gov/datasets/monthly-treasury-st...)