The Briefing Room

General Category => Economy/Business => Topic started by: edpc on January 28, 2019, 02:49:03 pm

Title: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: edpc on January 28, 2019, 02:49:03 pm
(Bloomberg) -- The U.S. Treasury Department is set to maintain elevated sales of long-term debt to finance the government’s widening budget deficit, with new issuance projected to top $1 trillion for a second-straight year. Many strategists at primary-dealer firms predict that this Wednesday’s quarterly refunding announcement will see the Treasury maintain note and bond sales at the record high levels they have boosted them to in recent months.

https://www.bloombergquint.com/politics/another-year-another-1-trillion-in-new-debt-for-u-s-to-raise#gs.Nfc2vyTB (https://www.bloombergquint.com/politics/another-year-another-1-trillion-in-new-debt-for-u-s-to-raise#gs.Nfc2vyTB)
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: BlueHammer on January 28, 2019, 03:03:44 pm
well......that's just great
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: XenaLee on January 28, 2019, 03:17:17 pm
(Bloomberg) -- The U.S. Treasury Department is set to maintain elevated sales of long-term debt to finance the government’s widening budget deficit, with new issuance projected to top $1 trillion for a second-straight year. Many strategists at primary-dealer firms predict that this Wednesday’s quarterly refunding announcement will see the Treasury maintain note and bond sales at the record high levels they have boosted them to in recent months.

https://www.bloombergquint.com/politics/another-year-another-1-trillion-in-new-debt-for-u-s-to-raise#gs.Nfc2vyTB (https://www.bloombergquint.com/politics/another-year-another-1-trillion-in-new-debt-for-u-s-to-raise#gs.Nfc2vyTB)

Trillion, smillion.... what's the big deal???   The ""deficit"" is like an ugly, hairy unicorn.  Everyone has heard of it, but nobody really understands it... nobody really believes it exists.  And more importantly....nobody really cares.  Nobody except the adults, that is.   And there are very few of those in DC these days.   **nononono*
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: Wingnut on January 28, 2019, 03:27:32 pm
Trillion, smillion.... what's the big deal???   The ""deficit"" is like an ugly, hairy unicorn.  Everyone has heard of it, but nobody really understands it... nobody really believes it exists.  And more importantly....nobody really cares.  Nobody except the adults, that is.   And there are very few of those in DC these days.   **nononono*

Lets just print more money.  Problem solved. /s
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: XenaLee on January 28, 2019, 03:30:58 pm
Lets just print more money.  Problem solved. /s

Oh hell, printing wastes trees.  Whenever the gov needs more $$$, just move a few decimals on an electronic spreadsheet stored somewhere on da cloud (there's a reason why they call it that, ya know).  FUBAR
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: Free Vulcan on January 28, 2019, 03:35:29 pm
Right now, today, interest costs are 15% of tax revenue at $525B.

Imagine if interest rates doubled.

Nobody is going to let us do this forever.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: XenaLee on January 28, 2019, 03:39:41 pm
Right now, today, interest costs are 15% of tax revenue at $525B.

Imagine if interest rates doubled.

Nobody is going to let us do this forever.


Oh they will... but only IF there's a damned Democrat in the White House.  Prepare yourself for yet another collapse.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: ABX on January 28, 2019, 03:42:08 pm
Tax and spend, tax and spend.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: Free Vulcan on January 28, 2019, 03:55:18 pm
Oh they will... but only IF there's a damned Democrat in the White House.  Prepare yourself for yet another collapse.

Yes, because at some point our foreign lenders will say no more and start dumping our debt and currency. People have no clue what we're zombie walking into.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: XenaLee on January 28, 2019, 03:57:37 pm
Yes, because at some point our foreign lenders will say no more and start dumping our debt and currency. People have no clue what we're zombie walking into.

Some people have a clue.  Just.. not enough people have a clue.  And that is by design by the radical left, who controls the media AND education.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: roamer_1 on January 28, 2019, 04:51:59 pm
WOOHOO!! More winning!  *****rollingeyes*****
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: roamer_1 on January 28, 2019, 04:53:26 pm
Nobody is going to let us do this forever.

Hey. Too big to fail, baby... Yeah, man, that's the ticket.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: Sanguine on January 28, 2019, 04:55:51 pm
One bright spot, one of our major creditors, China, is having to print money and devalue the yuan.   :pondering:
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: ABX on January 28, 2019, 05:02:59 pm
One bright spot, one of our major creditors, China, is having to print money and devalue the yuan.   :pondering:

I wonder where they got that idea.

(https://pics.me.me/ilearneditby-watching-you-memes-com-16194450.png)
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: Sanguine on January 28, 2019, 05:04:24 pm
I wonder where they got that idea.

(https://pics.me.me/ilearneditby-watching-you-memes-com-16194450.png)

More stealing of intellectual property.    :laugh:
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: Hoodat on January 28, 2019, 05:09:36 pm
Lets just print more money.  Problem solved. /s

Not to worry.  Trump knows how to work his way through bankruptcy court.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: Free Vulcan on January 28, 2019, 05:21:00 pm
Hey. Too big to fail, baby... Yeah, man, that's the ticket.

Till they figure out there's no one big enough to bail us out anyway.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: jmyrlefuller on January 28, 2019, 05:48:16 pm
Till they figure out there's no one big enough to bail us out anyway.
Oh, they'll write off the debts... for a price.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: Free Vulcan on January 28, 2019, 05:54:36 pm
Oh, they'll write off the debts... for a price.

Doing that will completely collapse the economy. Even the hint of that will swamp our bond and currency markets and send us into a spiral that will be near unrecoverable.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: BlueHammer on January 28, 2019, 06:14:32 pm
Oh they will... but only IF there's a damned Democrat in the White House.  Prepare yourself for yet another collapse.

like the last collapse??? no, wait........whose watch did that happen on?
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: edpc on January 28, 2019, 06:19:28 pm
like the last collapse??? no, wait........whose watch did that happen on?


It happened under Bush 43, who, interestingly, repeatedly warned that sub prime entities like Fannie and Freddie were time bombs. Barney Frank insisted that was absurd.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: BlueHammer on January 28, 2019, 06:21:26 pm

It happened under Bush 43, who, interestingly, repeatedly warned that sub prime entities like Fannie and Freddie were time bombs. Barney Frank assisted that was absurd.

you left out maxine waters and franklin raines........yep, giving 120% mortgages to unemployed people was not smart.....both sides were guilty of masking the fact from the public
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: XenaLee on January 28, 2019, 06:23:19 pm
like the last collapse??? no, wait........whose watch did that happen on?

Which... is exactly my point and exactly 'why' it will happen again....

while there's a Republican in the WH.

The last one was caused by leftist Democrat policies.   The next one will also be a result of leftist wet-dreams.... ie getting rid of Trump.

Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: Hoodat on January 28, 2019, 06:28:29 pm
like the last collapse??? no, wait........whose watch did that happen on?

Nancy Pelosi and Harry Reid.  In just two years, they took a $160 billion budget deficit and turned it into a $1.6 TRillion deficit.

(my bad)
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: XenaLee on January 28, 2019, 06:31:40 pm
Nancy Pelosi and Harry Reid.  In just two years, they took a $160 billion budget deficit and turned it into a $1.6 billion deficit.

Huh???  In what alternate universe did Pelosi/Reid reduce the deficit?    :shrug: :shrug: :shrug:

Did you mean the reverse?  If so, got it.  lol
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: BlueHammer on January 28, 2019, 07:03:42 pm
Nancy Pelosi and Harry Reid.  In just two years, they took a $160 billion budget deficit and turned it into a $1.6 TRillion deficit.

(my bad)

which is chump change next to what the republican will be responsible for the next few years
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: Drago on January 28, 2019, 09:52:57 pm
Huh???  In what alternate universe did Pelosi/Reid reduce the deficit?    :shrug: :shrug: :shrug:

Did you mean the reverse?  If so, got it.  lol
1998-2001...GOP welfare reform/W.J. Clinton.

Table 1.1:  https://www.whitehouse.gov/omb/historical-tables/ (https://www.whitehouse.gov/omb/historical-tables/)
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: XenaLee on January 28, 2019, 10:04:50 pm
1998-2001...GOP welfare reform/W.J. Clinton.

Table 1.1:  https://www.whitehouse.gov/omb/historical-tables/ (https://www.whitehouse.gov/omb/historical-tables/)

If my memory serves..... the GOP had control of the House back then.  Remember Newt's Contract With America?
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: Drago on January 28, 2019, 10:34:22 pm
Yeah, IIRC Congress switched over to GOP in Clinton's 2nd year?  Was it "Reid/Pelosi" for the 1st 2? In any case you are/probably are correct...it was Newt/GOP/W.J. Clinton that managed to sorta "balance the budget"/"Balance the CR's" for 1998-2001.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: XenaLee on January 28, 2019, 10:37:34 pm
Yeah, IIRC Congress switched over to GOP in Clinton's 2nd year?  Was it "Reid/Pelosi" for the 1st 2? In any case you are/probably are correct...it was Newt/GOP/W.J. Clinton that managed to sorta "balance the budget"/"Balance the CR's" for 1998-2001.

Clinton had to be dragged, kicking and squealing .... (he vetoed the first time) to sign off on it.  Problem was.... the GOP, back then, had overwhelming support from the public... which pressured Clinton to cave and sign it.  As a result, the economy boomed.... the rats took credit.  Ho-hum....nothing ever changes.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: BlueHammer on January 28, 2019, 10:49:18 pm
If my memory serves..... the GOP had control of the House back then.  Remember Newt's Contract With America?

Yup.....very little of which actually passed Congress or survived a veto
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: BlueHammer on January 28, 2019, 10:52:02 pm
Clinton had to be dragged, kicking and squealing .... (he vetoed the first time) to sign off on it.  Problem was.... the GOP, back then, had overwhelming support from the public... which pressured Clinton to cave and sign it.  As a result, the economy boomed.... the rats took credit.  Ho-hum....nothing ever changes.

Actually .... contract with America was a book and not some legislative document....very little of it actually got out of the chambers.....there was not much kicking and screaming by Clinton, though he did veto a bunch of stuff and then negotiated several watered down versions of bills.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: LMAO on January 29, 2019, 03:15:34 pm
Yes, because at some point our foreign lenders will say no more and start dumping our debt and currency. People have no clue what we're zombie walking into.

The problem with that is then where else will they go? Historically, the lenders start getting anxious went public debt to GDP ratio gets above 80%.  That’s what happened in southern Europe. There are  advantages that the US has that other countries don’t. For example, the US economy is the largest in the world. But this can’t go on forever. And instead of anyone talking about cutting spending, we have people talking about new government programs that we cannot realistically pay for.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: IsailedawayfromFR on January 30, 2019, 05:03:02 am
The problem with that is then where else will they go? Historically, the lenders start getting anxious went public debt to GDP ratio gets above 80%.  That’s what happened in southern Europe. There are  advantages that the US has that other countries don’t. For example, the US economy is the largest in the world. But this can’t go on forever. And instead of anyone talking about cutting spending, we have people talking about new government programs that we cannot realistically pay for.
Why doesn't the Treasury go to the Social Security Trust Fund to get some money?  The Trust has accumulated trillions of surplus funds that can be used by the Treasury to fund its obligations.  Al Gore says the money is there.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit Read more at:
Post by: XenaLee on January 30, 2019, 04:40:14 pm
Why doesn't the Treasury go to the Social Security Trust Fund to get some money?  The Trust has accumulated trillions of surplus funds that can be used by the Treasury to fund its obligations.  Al Gore says the money is there.

Riiight.  Just raid the Al Gore Lockbox.  Oh wait.  Is that the same as Obama's stash?  Then nevermind (it's dead, Jim).
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: Hoodat on January 30, 2019, 05:31:41 pm
What do you mean "my account is overdrawn"?  I still have checks left.
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: BlueHammer on January 30, 2019, 08:32:53 pm
reagan cut taxes in 1981 and then raised them in 1982......just saying
Title: Re: U.S. Treasury Set to Borrow $1 Trillion for a Second Year to Finance the Deficit
Post by: IsailedawayfromFR on January 30, 2019, 11:02:42 pm
reagan cut taxes in 1981 and then raised them in 1982......just saying
Congress, not the Executive, cuts or raises taxes......just saying 

Welcome to TBR @BlueHammer