That awful deficit!

[source: finance.yahoo.com]

Okay - there are two, maybe three, messages in this graph.

Message 1: The U.S. government is TODAY borrowing money at record-low interest rates!
So - when would YOU like to borrow $$$ - when interest rates are high or when interest rates are low?
[snide aside: during St. Reagan's glorious reign, we paid 9% on borrowed money!]

Message 2: The so-called "deficit hawks" deplore borrowing - it will surely diminish our national wealth!... Well, right now, folks are RUSHING to lend us $$$ - buying U.S. T-bills at record-low interest! ... folks are apparently quite confident of the solvency of the U.S. Government!

Message 3: The 10-year T-bill rate is set AT AUCTION! - this is not an arbitrarily set number, but the result of what may well be the single most unregulated FREE MARKET in the world!...
... YES! - the FREE MARKET - that beloved icon of our conservative friends - is telling us that we can BORROW to our heart's content! - folks are happy to lend us the money!!! - at under 3% interest!!!

When the so-called "deficit hawks" were BORROWING to pay for Iraq & Afghanistan (formally unfunded, 2001-2008), we BORROWED at 4%-5% interest.
Today?
We can BORROW at less than 3% interest!!!...
... hmmm... maybe we oughta BORROW to stimulate aggregate DEMAND! - you know, like... do what we can to lift the U.S. economy out of a demand-based RECESSION!