Open Thread

For general discussion and debate. Possible talking point: The Next Big Sucking Sound!

Presidential candidate Ross Perot famously warned in 1992 that if the North American Free Trade Agreement was enacted, there would be a giant sucking sound created by jobs heading south of the border. Although his prediction proved largely inaccurate, the irritating noise he presaged might soon come from the rush of dollars leaving the economy every time the United States Treasury sells notes and bills to fund the exploding budget deficits. This year alone, according to the investment firm Goldman Sachs, America will sell $2.5 trillion of treasury paper. That is a tripling of what was auctioned off in 2008.