The Democrat Club of Longboat Key talked federal budget on March 13 at the Longboat Key Club and Resort's Harborside Dining Room. Retired Professor Emeritus of Economics and Dean of the University of Wisconsin Ayse Somersan spoke about the question: Is the U.S. going bankrupt. Her answer was, 'No, but could we? Yes, if we act foolish.' She suggested that all you have to look at is the interest rate at which the treasure borrows. People are willing to lend to the U.S. at 2% interest rate, and as long as the treasury's paper is a valued asset, that we are in good shape - until the interest rate rises and a vicious cycle starts.
