Christie to Bond Investors: Don’t Trust My IOUs
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  • Jim Luebke

    Well, that’s one way to fight deficits — be honest about whether they’ll actually be paid back, and let the bond markets enforce fiscal discipline.

    • Marty Keller

      Exactly.

  • BrianFrankie

    Give Governor Christie points for honesty.
    In Illinois, they are still selling bonds without acknowledging what should be obvious to everyone – there is 0% chance they will be paid back. In effect, those purchasing Illinois bonds are submitting to voluntary taxation, which is certainly one way to balance budgets. But in my mind, it is simply fraud. Similar to making pension promises that have 0% chance of being kept.

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