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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's debt sales top crisis-era levels even as economy revs up
President Donald Trumps debt sales will surpass levels last seen when the U.S. was digging out of its worst economic crisis since the Great Depression. The difference is, this time the economy is booming.
A ballooning budget shortfall -- fueled by tax cuts, spending hikes and an aging population -- is driving the U.S. Treasury to raise its long-term debt issuance at its quarterly refunding auctions to $83 billion from $78 billion three months earlier, the department said Wednesday. The need for the Treasury to raise auction sizes for a fourth straight quarter is also partially driven by the Federal Reserves decision not to replace some of its Treasury holdings when they mature as it winds down crisis-era stimulus measures.
The debt issuance at this quarterly refunding beats the previous record of $81 billion first set by former Treasury Secretary Timothy Geithner in 2009 when the U.S. was recovering from the Great Recession. This time borrowing is surging as the economy hums along at a 3.5 percent annual growth rate and unemployment is near a half-century low.
The yield on the benchmark 10-year note climbed as much as 4 basis points to 3.16 percent Wednesday.
https://www.msn.com/en-us/money/markets/trumps-debt-sales-top-crisis-era-levels-even-as-economy-revs-up/ar-BBP9MBm?li=BBnbfcN
The king of debt
redstatebluegirl
(12,265 posts)Achilleaze
(15,543 posts)Stupid. Gross negligence.
* aka Dirty Donny, the republican Draft-Dodger-in-Chief
sdfernando
(4,930 posts)at some point, probably soon, it will tank, just as the Democrats take over the house....and the orange pustule will then blame it on the Democrats....sigh.