Author Topic: Government Day-to-Day  (Read 13996 times)

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Offline wilber

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Re: Government Day-to-Day
« Reply #255 on: March 12, 2020, 06:13:46 pm »


But we do, you know, have to come up with the money to pay back the bonds that come due every year, and in a year when we are going to have big unplanned expenses and a big unexpected drop in revenue, that is going to be a headache.

 -k

Bingo. But you really aren't paying back anything, you are just rolling over debt at an interest rate you can't predict in the future. Like renewing a mortgage every five or so years, except you didn't pay off any of the principal, you just paid the interest.
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