Sentence of the Day

Fortunately, the appetite for U.S. government debt can be taken for granted Tyler Cowen (sarcastically).

This is the weak link in Obama’s plans. What will he do when the bond markets return to normal after a decade of being too nice?

In a way, Bush’s easy-spending ways are explained by the abnormally nice bond markets in the last decade. A return to normal credit (what the credit markets will look like when “fixed”) will probably imply a return to the times when the bond markets “could scare anybody” rather than the times when they would lend anybody anything.

Fortunately, the appetite for U.S. government debt can be taken for granted Tyler Cowen (sarcastically). This is the weak link in Obama's plans. What will he do when the bond markets return to normal after a decade of being too nice? In a way, Bush's easy-spending ways are explained by the abnormally nice bond markets in ...