Vexed Bermoothes

So, it’s official.  Government is trying to raise a half billion dollars in debt to cover their “spending addiction”.

Of interest is that the fact that the debt will take the form of “fixed bullet” bonds.  This means the bond is not callable, and we will pay the entire principal back at the maturity date in 2020.

Given Government’s recent history of raiding the “sinking fund”, how much do you want to bet that in 2020 they don’t have $500,000,000 in the kitty and end up rolling it over into more debt?  But what do they care, it will be someone else’s problem then.

The PLP seem to like naming things after themselves.  I propose that we call this the “Ewart F. Brown National Debt.”