Catherine Rampell

because we're talking about government borrowing, when those interest rates go down, we can refinance the national debt, just like Donald Trump would refinance one of his properties, right? If you're a real estate investor or a homeowner, for that matter, and you're borrowed at a very high interest rate. You're excited when rates fall because you can refinance.

And so that maybe he could use that as an opportunity to not like negotiate our debt down, but just like when it rolls over, roll over it at lower rates or refinance otherwise. Anyway, I think that's the theory of the case. First of all, I don't think that's like nearly as plausible. Even if markets did what you would normally expect, right? which is, again, having interest rates fall.

And so that maybe he could use that as an opportunity to not like negotiate our debt down, but just like when it rolls over, roll over it at lower rates or refinance otherwise. Anyway, I think that's the theory of the case. First of all, I don't think that's like nearly as plausible. Even if markets did what you would normally expect, right? which is, again, having interest rates fall.

And so that maybe he could use that as an opportunity to not like negotiate our debt down, but just like when it rolls over, roll over it at lower rates or refinance otherwise. Anyway, I think that's the theory of the case. First of all, I don't think that's like nearly as plausible. Even if markets did what you would normally expect, right? which is, again, having interest rates fall.

I don't think that's remotely plausible. But again, we are seeing the opposite happen. Instead, we are seeing treasury rates increase, maybe because nobody wants to invest here, maybe because people want to hold cash, maybe because they're worried about inflation.

I don't think that's remotely plausible. But again, we are seeing the opposite happen. Instead, we are seeing treasury rates increase, maybe because nobody wants to invest here, maybe because people want to hold cash, maybe because they're worried about inflation.

I don't think that's remotely plausible. But again, we are seeing the opposite happen. Instead, we are seeing treasury rates increase, maybe because nobody wants to invest here, maybe because people want to hold cash, maybe because they're worried about inflation.

All the things that I was talking about before, you know, we don't know which of them it is, but whatever, we will soon probably, but whatever the cause is, the outcome means it becomes much more expensive for the federal government to borrow. And so, in fact, this will worsen our debt obligations in the United States. And they're already on a totally unsustainable path.

All the things that I was talking about before, you know, we don't know which of them it is, but whatever, we will soon probably, but whatever the cause is, the outcome means it becomes much more expensive for the federal government to borrow. And so, in fact, this will worsen our debt obligations in the United States. And they're already on a totally unsustainable path.

All the things that I was talking about before, you know, we don't know which of them it is, but whatever, we will soon probably, but whatever the cause is, the outcome means it becomes much more expensive for the federal government to borrow. And so, in fact, this will worsen our debt obligations in the United States. And they're already on a totally unsustainable path.

And nobody wants to do anything about it. If anything, Republicans on the Hill are trying to increase our debt through the coming tax cuts. Yeah. So whatever this kooky theory is not going to happen. Virtually the opposite is likely to.

And nobody wants to do anything about it. If anything, Republicans on the Hill are trying to increase our debt through the coming tax cuts. Yeah. So whatever this kooky theory is not going to happen. Virtually the opposite is likely to.

And nobody wants to do anything about it. If anything, Republicans on the Hill are trying to increase our debt through the coming tax cuts. Yeah. So whatever this kooky theory is not going to happen. Virtually the opposite is likely to.

A few thoughts on this. The AP reported today that, yes, foreign leaders have been calling the White House and no one is answering their calls. And also that they don't even know what to offer Trump. Right. They don't know what concessions he's demanding. And I think that's the problem here.

A few thoughts on this. The AP reported today that, yes, foreign leaders have been calling the White House and no one is answering their calls. And also that they don't even know what to offer Trump. Right. They don't know what concessions he's demanding. And I think that's the problem here.

A few thoughts on this. The AP reported today that, yes, foreign leaders have been calling the White House and no one is answering their calls. And also that they don't even know what to offer Trump. Right. They don't know what concessions he's demanding. And I think that's the problem here.

He does not know what concessions he is demanding or even if he wants concessions, because half of the time he's. he or his underlings say, no, no, no, this isn't for negotiation because we need the revenue, right? We need the tariff revenue to help pay for corporate tax cuts or other, you know, personal income tax cuts or what have you. Getting rid of capital gains, as you mentioned before.

He does not know what concessions he is demanding or even if he wants concessions, because half of the time he's. he or his underlings say, no, no, no, this isn't for negotiation because we need the revenue, right? We need the tariff revenue to help pay for corporate tax cuts or other, you know, personal income tax cuts or what have you. Getting rid of capital gains, as you mentioned before.

He does not know what concessions he is demanding or even if he wants concessions, because half of the time he's. he or his underlings say, no, no, no, this isn't for negotiation because we need the revenue, right? We need the tariff revenue to help pay for corporate tax cuts or other, you know, personal income tax cuts or what have you. Getting rid of capital gains, as you mentioned before.

So they need the revenue. They don't want to negotiate down the tariffs and or they want the tariffs to stay in place because that's the only way to encourage companies to move their manufacturing back to the U.S. Also a flawed premise for different reasons. But in any event, so sometimes they say it's permanent. Sometimes they say it's temporary.