MURDER, POLITICS, AND THE END OF THE JAZZ AGE
by Michael Wolraich
|
|
The US needs to borrow almost $300 billion this week
By artappraiser on Tue, 03/27/2018 - 10:42pm |Posted only because I found it a very clever way of addressing the issues involved. With video "Why Trump's tax cuts could backfire".
By Matt Egan @ CNN Money, March 27
Uncle Sam needs to borrow a ton of money this week — in the middle of a fight with its biggest creditor.
The United States plans to sell about $294 billion of debt, according to the Treasury Department. That's the highest for a week since the record set during the 2008 financial crisis.
Federal revenue is declining because of President Trump's tax cuts, so the government needs to borrow more to make ends meet. At the same time, Washington's borrowing costs have climbed rapidly in recent months. "The amount of debt coming on the market this week is extremely large," said Rick Rieder, global chief investment officer of fixed income at BlackRock, the world's largest asset manager [....]
URL:
http://money.cnn.com/2018/03/27/investing/us-debt-sale-record-treasury/index.html
- 231 reads