Audley's trick

[Plush]

Bol Headline about cutting budget by $100B. Details say that loan maturites of close to 100B has been extended and the JDX is saving up to $40B. Where is the real cut...Or are we actually spending more and pushing the problem to later years?

[Me]

Nothing wrong with savings generated from extending the maturities on a couple of the securities especially if they would have been refinanced anyway.