Corporate and government debt

What is the risk premium across the economic sectors?

Government the lowest, union member highest?
Corporate interest rates are much higher, probably too much compared to government interest rates. We need to increase the risk of default for government as our first step to recovery.

DeLong would have the government administer risk through loan remarketing agencies. This give lenders the government guarantee.

But, under DeLong's plan, how do we differentiate between borrower risk and government risk? The only way to differentiate that risk is via the election cycle, which is four to eight years long. So, we end up with a system in which government is continuing the push corporate risk higher until voters can get in the new "board of directors" This is a sure fire bubble plan.