“ Republicans were quick to point out that borrowing costs for February’s stimulus package will on average cost almost $100 million a day over the next decade.
— from an AP analysis of the President’s PR move of the day to tell his Cabinet to find $100 million between themselves to eliminate over the next decade or two, titled “Obama’s Latest Budget-Tightening Effort Hardly Makes a Dime’s Worth of Difference”
Wow. AP buried the lead.
To save $100 million, we only need to force China to give up one day’s worth of interest. Or maybe what we can do if we want to “save” more is treat China like a bank holding a subprime mortage: We’ll force them to reduce the principle, too.
2 years ago