Treasury Issues $1T in New Debt in 8 Weeks

[Chris_]

Ponzi: Treasury Issues $1T in New Debt in 8 Weeks—To Pay Old Debt

The Daily Treasury Statement that was released Wednesday afternoon as Americans were preparing to celebrate Thanksgiving revealed that the U.S. Treasury has been forced to issue $1,040,965,000,000 in new debt since fiscal 2015 started just eight weeks ago in order to raise the money to pay off Treasury securities that were maturing and to cover new deficit spending by the government.

During those eight weeks, Treasury took in $341,591,000,000 in revenues. That was a record for the period between Oct. 1 and Nov. 25. But that record $341,591,000,000 in revenues was not enough to finance ongoing government spending let alone pay off old debt that matured.

At the end of October, according to the Treasury’s Monthly Statement of the Public Debt, the total debt of the federal government was $17,937,160,000,000.

Of this, $5,080,104,000,000 was what the Treasury calls “intragovernmental” debt, which is money the Treasury has borrowed and spent out of trust funds theoretically set aside for other purposes—such as the Social Security Trust Fund.

CNS News

Spending money like it's going out of style.

[DLR Pyro]

CNS News

Spending money like it's going out of style.

It's easy to do when it's O.P.M. (other people's money)

[J P Sousa]

  At the end of October, according to the Treasury’s Monthly Statement of the Public Debt, the total debt of the federal government was $17,937,160,000,000.

Of this, $5,080,104,000,000 was what the Treasury calls “intragovernmental” debt, which is money the Treasury has borrowed and spent out of trust funds theoretically set aside for other purposes—such as the Social Security Trust Fund. 

 

[JohnnyReb]

A few trillion here, a few trillion there and soon we're talking worthless money.

[obumazombie]

Lib politicians are worse than banksters.