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The world. when the financial crisis hit, all the money in the world, not all of it, but most of the investor came into the u.s., went into treasury bonds. it was how we were able to borrow at a very low rate and ease the recession, do the stimulus at a cut rate. if we lose that capacity, if the market loses confidence in us going forward, we will never get that back. we will become more like a greece, more like a britain, more like a country that the market can begin to short. that is enormously dangerous, something you never allow to happen if you re an american. and if we do arrange the revenue flow into the treasury to go directly to debt first, debt payments first, you would obviously have to cut dramatically and instantaneously from other programs, including the big ones, the big cash flows, like social security. but it s absurd. yes, you could i mean, it s not an unimaginable scenario in many ways. i just did a big piece on this, and bill gross, head of ....
Went into treasury bonds. it was how we were able to borrow at a very low rate and ease the recession, do the stimulus at a cut rate. if we lose that capacity, if the market loses confidence in us going forward, we will never get that back. we will become more like a greece, more like a britain, more like a country that the market can begin to short. that is enormously dangerous, something you never allow to happen if you re an american. and if we do arrange the revenue flow into the treasury to go directly to debt first, debt payments first, you would obviously have to cut dramatically and instantaneously from other programs, including the big ones, the big cash flows, like social security. but it s absurd. yes, you could ç i mean, it s not an unimaginable scenario in many ways. i just did a big piece on this, and bill gross, head of pimco, the biggest bond company in the country, said this is absurd. if you do that, what the market will see is that we cannot get our act t ....