October 23, 2011
The U.S. Government is the largest holder of adjustable rate debt in the world.The average maturity of our $15 trillion debt is 4.3 years.36% matures in less than one year64% matures in 2-30 yearsI sure hope that inflation doesn't drive rates up........Pushing up our bubble economy sure took an enormous amount of borrowed money.The Age of Excess was like no other in U.S. history.Let those poor Chinese peasants "who made all the goods we bought" do all the saving.Besides, saving money was downright Un-American.Update 2023, our debt is now $35 trillion or 135% of GDP, and the Ten Year Treasury just bumped up against 5%, so the interest payment alone this year will approach $1 trillion.
