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Treasury to borrow $1 trillion for second straight year to finance deficit: report

JacksinPA

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https://thehill.com/policy/finance/...-borrow-1-trillion-to-finance-deficit-for-the

The Treasury Department is projected to borrow $1 trillion for the second year in a row to finance the deficit, according to Bloomberg News.

Bloomberg reported the projection Monday ahead of a quarterly refunding announcement on Wednesday that is expected to show continued record-high levels of note and bond sales.
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When you find yourself at the bottom of a very deep hole, it's a sign to stop digging it deeper.

A large percentage of Treasury note & bond sales are made to China, another adversary country that does not wish us well. Interesting article: https://www.investopedia.com/articles/investing/040115/reasons-why-china-buys-us-treasury-bonds.asp
 

WCH

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I've always wondered why we can't set up the national debt like a home loan, paying some toward the principle with each installment.
 

Crosscheck

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Care to review the deficits for the past decade? Really not a topic Obamites should bring up....


https://www.usgovernmentspending.com/federal_deficit_chart.html



Yaaawwwwnnnn…..

But from that article:
Federal Deficits were declining in the mid 2000s as the nation climbed out of the 2000-02 recession. But the recession that started late in 2006 drove deficits higher, with a deficit in FY2009 driven up by over $700 billion in bank bailouts under the TARP program.
After the Crash of 2008 the federal deficits did not go below $1 trillion until FY2013.
Budgeted US Federal Deficits

Chart D.02f: Budgeted US Federal Deficits
The FY2019 federal budget estimates budget deficits out to 2023. It forecasts deficits just under $1 trillion per year, declining to $800 billion by 2023.

The crash of 2008 hurt us big time. And to note Obama did not come into office until January 21, 2009.

The deficit stayed high until a decline in 2013. With hitting the lowest since 2007.

But as of 2016 it has started back up again. With the projection of $984 Billion in 2019.


Estimating deficit to just under One Trillion per year until 2023.
 

Crosscheck

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I've always wondered why we can't set up the national debt like a home loan, paying some toward the principle with each installment.

Because like its people the government are spenders not savers.
 

washunut

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But from that article:


The crash of 2008 hurt us big time. And to note Obama did not come into office until January 21, 2009.

The deficit stayed high until a decline in 2013. With hitting the lowest since 2007.

But as of 2016 it has started back up again. With the projection of $984 Billion in 2019.


Estimating deficit to just under One Trillion per year until 2023.

Ironic that so many still want to add TARP as spending when in fact it has turned into probably the only profit machine the Federal government ever stumbled on. Even counting the unintended Obama giveaways TARP has made a profit of tens of billions and continues.

No doubt we had a sharp,quick recession that preceded Obama. While it was devastating for many during the banking scare costing many their jobs always wondered if any other president would have successful branding it the great recession. The Obama team were much more skillful liars than the Trump team. But then again, they had the media as allies pushing their stories.
 
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