[ml/nj]

The people who matter in this case, bond purchasers, won’t buy them except at fantastic yields.

You seem to be ignoring the fact that the largest purchaser of Treasury Paper these days is the Federal Reserve. They can print as much of their own paper now to "purchase" Treasury Paper as they want.(It was formerly illegal for the Fed to hold Treasury Paper as an asset "backing" their "notes.")

ML/NJ

[mrsmith]

My, I’ce no idea how that completely slipped my mind.

Or Obama could have them tear up our debt they already own and accomplish the same thing legally.

It’s a fantasy financial world.