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Live Video: Obama on the Downgrade

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Obdicut (Now with 2% less brain)8/08/2011 1:01:43 pm PDT

re: #329 RogueOne

Yes. He’s made that argument repeatedly. That and “it’s so cheap to borrow money”. It’s a lousy argument, it’s lousy policy, and it’s partly why we just got our credit downgraded.

No, Rogue, that’s an entirely different goddamn argument. Entirely.

Right now, the percentage we have to pay as interest on any new debt is insanely, incredibly low. So, for any costs that we know we have— if we know we need to build infrastructure, if we know we need to do whatever— it will cost less money to borrow it and spend it now than to use tax monies going forward.