Cramer spoke with Sen. Tom Coburn (R., Okla.) about the U.S.'s amazing opportunity to avoid a liquidity crisis, like Greece is facing now, by issuing $2 trillion worth of 30-year treasury bonds to lock in low interest rates.
Coburn said those in Washington are focused only on short-term gains, and are afraid to spend $1 today to avoid spending $12 later. He advocated not only issuing $2 trillion to shore up the Treasury, but also $1.6 trillion more to shore up both
. "The demand is there," he said.
Coburn acknowledged that such a plan would cost some $60 billion, but said not doing it would cost far more, as the country is poised for a liquidity crisis similar to Greece in about two years. He said rates will most certainly be higher then than they are now.
Cramer equated such a plan to a home owner locking in a 30-year fixed rate mortgage and agreed with Coburn that such a plan is vital to America's stability and its future.
Cramer was bullish on
(AKAM - Get Report)
Procter & Gamble
(PG - Get Report)
Bank of America
(BAC - Get Report)
He was bearish on
Mexican Economic Development
(LINE - Get Report)
-- Written by Scott Rutt in Washington D.C.
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