The Treasury Department said Wednesday the pandemic continues to cloud its future borrowing needs.Still, the Treasury's cash balance needs to be reined in ahead of a key debt-ceiling deadline.Even as vaccines are distributed nationwide and COVID-19 cases fall, the US government may need to take on swaths of new debt to get through the pandemic.
Public debt in the US reached a record $27.7 trillion at the end of 2020. The sum stands to soar even higher as Democrats push for additional fiscal stimulus. The Treasury aims to raise $63.1 billion next week across offerings of 3-year notes, 10-year notes, and 30-year bonds. The department plans to keep large cash balances on hand due to"ongoing uncertainty" regarding pandemic-related costs. The balance stood at $1.7 trillion at the end of last year.
"Treasury believes that these changes have created sufficient capacity to address near-term projected borrowing needs," Smith said.
And whose going to buy TBills at 1.5% ?
Get ride of all the tax loop holes, then tax the rich a little more, the bottom can’t be tax anymore if they struggle to put food on the table,
Tax the rich.
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