Long-Term Debt Should Be Longer

President Obama said in a press conference Tuesday that Congress should pass a law to make it possible for responsible homeowners to refinance at historically low rates, How about telling the Treasury to refinance the debt of the United States to take advantage of historically low interest rates? 

We have a debt of more than $15 trillion and growing. The average maturity of our debt now is about 60 months. Considering how much debt we are adding each year from deficit financing, it makes no sense at all to be so concerned about homeowners getting super-low, 30-year fixed-rate mortgages while totally ignoring our country's very-short-term debt load. Mexico and several other countries have issued 100-year and 50-year bonds. Some corporations have done the same. We have not done any of this....271 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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