enhanced_deficit
01-31-2018, 05:12 PM
Debt and spending used to be a hot topic when Obama was in WH, somehow it no longer is.
Although current GOP-Javanka wing leader in the WH ran on being non-interventionist/spending cutter/conservative values type guy, that has not really translated to reality.
http://s.marketwatch.com/public/resources/MWimages/MW-EH217_trumps_ZG_20160304172054.jpg
U.S. Raises Longer-Term Debt Sales as Budget Deficit Worsens
By Liz McCormick and Saleha Mohsin
January 31, 2018
It raises size of 3-, 10- and 30-year debt sales next week
Treasury also plans to lift all other tenors sold over quarter
Harvard Professor Martin Feldstein says the projected deficits are "terrible."
President Donald Trump’s administration will increase the amount of long-term debt it sells to $66 billion this quarter, marking the first boost in borrowing since 2009 as the Treasury seeks to cover mounting budget deficits.
The Treasury is shaping the government’s borrowing plans against a budget shortfall that grew to $665.7 billion last fiscal year because of higher spending on Medicare, Social Security and other programs for an aging population. The gap is expected to widen further due to tax cuts enacted this year that are projected to reduce revenue by almost $1.5 trillion over the next decade.
Treasury Secretary Steven Mnuchin’s department also partly linked the larger sales of debt to the Federal Reserve cutting its crisis-era portfolio of Treasury bonds, which it bought to stimulate the economy following the financial crisis. As the Fed slows the amount of government debt it reinvests, the Treasury has to make it up through public borrowing.
Mnuchin’s debt management team will sell next week $26 billion of 3-year notes versus $24 billion in November, it said Wednesday in its refunding announcement. The department also lifted to $24 billion the sale of 10-year notes from $23 billion and 30-year bonds to $16 billion from $15 billion, also to be auctioned (https://www.bloomberg.com/news/terminal/P34OXXT25UKH) next week. Total offerings rose to $66 billion from $62 billion in November.
https://www.bloomberg.com/news/articles/2018-01-31/treasury-lifts-coupon-debt-sales-for-first-time-since-2009
Although current GOP-Javanka wing leader in the WH ran on being non-interventionist/spending cutter/conservative values type guy, that has not really translated to reality.
http://s.marketwatch.com/public/resources/MWimages/MW-EH217_trumps_ZG_20160304172054.jpg
U.S. Raises Longer-Term Debt Sales as Budget Deficit Worsens
By Liz McCormick and Saleha Mohsin
January 31, 2018
It raises size of 3-, 10- and 30-year debt sales next week
Treasury also plans to lift all other tenors sold over quarter
Harvard Professor Martin Feldstein says the projected deficits are "terrible."
President Donald Trump’s administration will increase the amount of long-term debt it sells to $66 billion this quarter, marking the first boost in borrowing since 2009 as the Treasury seeks to cover mounting budget deficits.
The Treasury is shaping the government’s borrowing plans against a budget shortfall that grew to $665.7 billion last fiscal year because of higher spending on Medicare, Social Security and other programs for an aging population. The gap is expected to widen further due to tax cuts enacted this year that are projected to reduce revenue by almost $1.5 trillion over the next decade.
Treasury Secretary Steven Mnuchin’s department also partly linked the larger sales of debt to the Federal Reserve cutting its crisis-era portfolio of Treasury bonds, which it bought to stimulate the economy following the financial crisis. As the Fed slows the amount of government debt it reinvests, the Treasury has to make it up through public borrowing.
Mnuchin’s debt management team will sell next week $26 billion of 3-year notes versus $24 billion in November, it said Wednesday in its refunding announcement. The department also lifted to $24 billion the sale of 10-year notes from $23 billion and 30-year bonds to $16 billion from $15 billion, also to be auctioned (https://www.bloomberg.com/news/terminal/P34OXXT25UKH) next week. Total offerings rose to $66 billion from $62 billion in November.
https://www.bloomberg.com/news/articles/2018-01-31/treasury-lifts-coupon-debt-sales-for-first-time-since-2009