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Geronimo

Monday, April 04, 2005

Reagans legacy revisited

On the news today it was announced that as bonds mature they can be renewed at the rate of original purchase..Sure good news for the fat cats that bought high rate bonds in 1981 after reagans tax cut for the rich..It seems that the great windfall mostly went for 10 to 13% Bonds instead of making jobs as it was touted to do..Those bonds are responsible for maybe as much as 2 trillion of our nationsl debt today..Maybe that is not so bad..What if everyone wanted to cash in at face value..hummmm!

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