No, apparently from a lifetime of bad ideas, the one that Steve-O truly regrets is the 20-year Treasury bond.
Since the Treasury re-introduced the 20-year bond in monthly auctions four years ago, their sale has tacked on roughly $2 billion a year in interest expenses on top of what the government would have otherwise paid...
Mnuchin, who served as Treasury Secretary under then-President Donald Trump, said when contacted by Bloomberg News, "I would not keep issuing them. The conceit - to create another maturity to help lock in low borrowing costs for decades - made sense at the time, but things simply haven't worked out as planned. It's just costly to the taxpayer."
Mnuchin's about-face echoes, in some ways, the go-fast-and-break-things approach to policy making that Trump and his team preferred.
#steven-mnuchin #treasury-department #20-year-treasury-bond #interest-expenses #government-borrowing
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