Treasury Offering $75 Billion Debt For Sale
Wednesday, August 5, 2009 16:07You may not be surprised to hear that the Treasury is offering US debt for sale again next week: the Treasury is offering $37 billion in 3 year notes Aug 11, and the Treasury is also offering another $23 billion in 10 year notes as well on Aug 12, and the Treasury is also offering another $15 billion in 30 year bonds available Aug 13. The Treasury is offering $75 billion in US Debt next week though some had expected the government to offer $77 billion.
The Treasury department of the government has offered record amounts of debt for sale in recent months in an effort to fund the huge budget deficit and continue the economic rescue efforts.
The treasury sold a record $200 billion in short term debt just last month, and the Treasury expects to reach $12.1 trillion debt ceiling by the fourth quarter. The Treasury Secretary Matt Rutherford says they will see that the debt ceiling is raised so they can continue to borrow once the ceiling is reached.
With the huge amounts of US debt and the growing deficit, it is very likely that investors like China will start asking for higher rates for lending us the money thus making it harder to fund our governments needs. The government says the amount of borrowing will be enough to fund current financial needs, yet the amount of debt sold will continue to rise in the short term to meet future needs.
The Treasury is happy with the demand for US debt and says the demand both locally and nationally is strong. The question is how long can we keep borrowing and maintain financial stability, how can we be financially strong and economically sound when the debt and deficit are growing so rapidly.
Once again with the huge amount of government spending, and the amount of debt the Treasury is selling or a regular basis “Precious Metals” are a very good place to invest as they are stable and strong and not tied to the value of the dollar which is some what unstable.
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