"The US national debt is essentially just a Bobby Bonilla contract that we have with China." — PFT Commenter

Take Slip·Jul 1, 2020

#27096#PMT-2020-0701-27096

The US national debt is essentially just a Bobby Bonilla contract that we have with China.

How the national debt works is that... whatever we owe to China's like our bookie and they basically are saying we'd rather you just keep playing then try to collect all this money... We have a Bobby Bonilla contract with the nation of China right now. We owe them a certain amount of money... every single year, as long as we keep those it's going then we can keep betting against the spread.

Opinion Politics Scorching SubjectiveSarcastic

This is a humorous metaphor and cannot be evaluated as an actual economic fact.

More from this episode

View episode

Void

Take Slip·Jul 1, 2020

#292#PMT-2020-0701-292

Big Cat

Taking deferred money like Bobby Bonilla is a better deal than a lump sum payment.

Bobby Bonilla has an awesome contract... the more MLB TV rights deals start to come in, the more you're seeing players push off and say, 'yeah, I'll take some deferred money coming down the line.' It's a good deal. It's like when that scratch-off Millions for life or whatever it is... I would absolutely take a deal like that instead of giving me all the money straight up.

Opinion Baseball Mild Subjective

The financial wisdom of deferred money vs. lump sum depends on interest rates and investment returns, making it a matter of financial opinion.

Void

Take Slip·Jul 1, 2020

#293#PMT-2020-0701-293

PFT Commenter

I would rather take $1 million a year for 25 years than $20 million upfront because I would spend the lump sum on jet skis.

If you were to say like, PFT, I'm going to give you either twenty million dollars on your 25th birthday or I'm going to give you a million dollars a year until you're 50, I'm absolutely taking the million until 50. Because if I'm 25, I'm just going to spend it like Billy Football would—just a shitload of jet skis, essentially just my own jet ski farm.

Opinion Life Mild Subjective

This is a subjective preference on personal financial management.

Void

Take Slip·Jul 1, 2020

#27094#PMT-2020-0701-27094

Big Cat

Deferred generational contracts like $50k a year for 75 years would just make your grandkids lazy pieces of shit.

What if you just got like fifty thousand dollars a year for the next like however long it be 75 years... all that would be ensuring is that your grandchildren are going to be like the laziest pieces of shit ever because they'll be like, 'I get my four thousand dollars a year coming in every July 1st. I don't need to get a job.'