Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 29, 2020

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Wed Sep 11 17:02:21 +0000 2019

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Paul Krugman @paulkrugman

The answer is that federal debt isn't like a mortgage you can prepay; it's bonds that promise a fixed yield until maturity. The government could issue new bonds and buy the old bonds back, but this wouldn't reduce interest payments at all ... 2/ — PolitiTweet.org

Posted Sept. 11, 2019 Hibernated

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Paul Krugman @paulkrugman

Quite aside from his demand that the Fed adopt emergency stimulus measures when the unemployment rate is 3.7%, Trump's tirade included the idea that the US should "refinance our debt." Why is that a stupid, ignorant remark? 1/ — PolitiTweet.org

Posted Sept. 11, 2019 Hibernated

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Paul Krugman @paulkrugman

... because while there are outstanding bonds yielding more than current rates — say, 10-year bonds yielding 3 percent — those bonds sell at a premium. So buying back, say, $1 trillion in debt wld cost more than $1 trillion — enough more that the interest wld be the same 3/ — PolitiTweet.org

Posted Sept. 11, 2019 Hibernated