Think it through. Who is the largest single user of blocks of debt? Kevin Drum and his pals are, they use massive chunks of debt to keep future entitlement promises.
Then Kevin Drum complains when the fee is too high to hide all that debt!
In a world of limited imprecision, we waste way too much of it on Kevin's policies, and that waste is ending up managed by Wall Street. We are paying transaction costs for 10 years of Drum innumeracy, and watching the progressives promote the unsustainable, I suggest progressives propose sustainability and then we might use some imprecision on good haircut deals.
I even added a chart, showing entitlements and their share of mandatories are likely half the wage stream. This does not count the other state and local wage stream. 30 to 50% of this are streams from promises made previously.
This is a Kevin Drum created problem, perhaps his quota of imprecision might reduce.
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