When all you read is gloom, turn here for a much different perspective.

Monday, December 22, 2008

Refinance Your Debt At 0%

So remember that national debt?

If you've forgotten, have a look here for the up to date totals...

It is approaching $35,000 per citizen.

But guess what? Did you hear that the Federal reserve is selling bonds? And they are selling them at almost 0%. So what does that mean? Why is that good news?

It means that the more they can sell at close to zero, the less interest we as taxpayers have to pay on the total debt.

This is even better news for law-makers as they consider funding new infrastructure and other stimulus programs. The ability of the government to go into debt has never been less painful. And particularly for the shrewd congressperson who realizes that the payback in taxes will more than cover what is borrowed, now is the time to fund those initiatives.

And with respect to the $35,000 that is my part of the debt, Chairman Bernanke, please see if you can refinance it with some of those big banks at 0%. While your at it, if there is no payback period specified, I'd love another 35K at 0%.


  1. I'd personally take $35K at 0%, but I would not want a bureaucrat borrowing and "investing" those funds on my behalf.


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