When I built my house 39 years ago with a 30-year mortgage, I was thrilled. A few years later I found if I waited the full 30 years it would cost 3 times my original loan. I paid it down quickly.

That’s important because when Clinton left office all the 30-year and nearly all the 20-year bonds were paid off. They were deciding on how many 10-years bonds could be paid off without wrecking the world’s financial stability.

Bush cut taxes, raised expenses and started two wars costing trillions. Soon 20 and 30-year bonds were back. Obama inherited the great recession which cut revenues increasing deficits and debt.

Now we have a huge deficit and a 17 trillion debt. As interest rates go up the money we pay in interest will go up. That means a higher portion of the revenue will go to interest payments. Trump wants to cut taxes to the super rich and corporations. That will create higher deficits and debt.

To overcome the old debt, the new administration is going to propose, not a 40-year bond, but a 100-year bond. If my 30-year bond was going to cost me triple the money I borrowed, what do you think a 100-year will cost? It is 6 times!!!