Thursday, December 8, 2011

Super solution to nation's debt

In metro new york's 'letters to the editior', December 8th, 2011:
Too bad the government doesn't refinance their debt. The interest per year right now on $15 trillion-plus is $452 billion. Why not refinance with the Federal Reserve at .01 percent, the same rate the Federal Reserve is giving its best customers the banks? That's a savings of $450 billion per year - $4.5 trillion over 10 years. Gee why didn't the super committee think of that one? DAVID SNIECKUS, VIA E-MAIL