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The Treasury Department is Choking on Debt, But You Don’t Have To
The U.S. Treasury Department announced Nov. 3 that it intended to borrow a record $550 billion in the fourth quarter. That represents a staggering $408 billion increase over Treasury’s borrowing estimate from early August and includes $260 billion for the recapitalization of U.S. banks.
Make no mistake about it: There will be enough U.S. Treasury bonds to choke on, as the government tries to finance this debt.
In the three months to Sept. 30, the Treasury Department borrowed $530 billion; in the first quarter of the New Year – which ends March 31 – it expects to borrow $368 billion. The…
7Nov2008 | Money Morning | Comments Off | Continued
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