DURHAM, N.C. ( TheStreet) -- Testifying before Congress in 1993, when interest rates were 7.5%, I advocated shifting some of the federal debt to floating rate debt. If the Treasury had shifted half of the debt to floating rate at that time, the U.S. would have saved $2 trillion to date.Today, however, interest rates are at, or near, historic lows. It is the wrong time to issue floating rate debt. This type of debt introduces unneeded funding risk.
U.S. Could Be Pushed Into Debt Overload by the Treasury
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