Edward Livingston: “So much so that we would also get the government out of competition…”

On the recordApril 24, 1996

So much so that we would also get the government out of competition for American dollars. We would cease to borrow money. And if we could cease to borrow money, that means interest rates would come down, and by Alan Greenspan's estimates, the chairman of the Federal Reserve, come down as much as two full percentage points, which means two points off the cost of your mortgage on your house; two points off the loan you use to send your kids to college; and two points off the loan you used to buy your car. Significant savings to the American people, if only the Government would stop borrowing in order to conduct its business year after year.

Said by

Edward Livingston

Louisiana

Source

govinfo.gov

Editor's note · Context

Discussing the impact of government borrowing on interest rates and personal loans.

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Edward Livingston: “So much so that we would also get the government out of competition for American dollars. We would cease to borrow…”

Editor's note · Context