U.S. Expects to Borrow $177 Bln in Q1

[54anickel]

http://biz.yahoo.com/rb/040202/economy_treasury_debt_4.html

WASHINGTON (Reuters) - Coming off of a record borrowing binge in the final three months of 2003, the U.S. Treasury Department (News - Websites) on Monday said it expects to borrow even more money from capital markets in the current quarter.

In its quarterly borrowing estimate, the Treasury said it borrowed a slightly smaller-than-expected $113 billion in the October-December quarter. However, that was still above the previous record $111 billion the Treasury borrowed from private investors in the January-March quarter of 2003.

The Treasury is forced to sell debt to finance the government budget deficit, which is expected to set a record at $521 billion in the 2004 budget year, which began Oct. 1. That follows a record-setting $374 billion gap in 2003.

The deficit is shaping up to be a campaign issue for President Bush as he seeks another term in the White House. After the 2000 election Bush pledged to pay off most of the national debt, but he has been forced to wrestle with surging budget deficits. Democrats say the deficits show Bush's tax cuts were unaffordable, while the administration says the gaps are the result of a sluggish economy and needed spending on the military and homeland security.

[curlyred]

1. red ink republicans

borrow and spend republicans.
slash and burn republicans.

[Homer12]

2. The Power of this country is in the Hands of the Major Banks

[mike1963]

3. Who is going to continue to loan money to this corrupt gang?

Junk bonds...

:grr:

[Lefta Dissenter]

4. Check out this graph

sorry if it's slow to load, but it's worth it. I hope it's still legible. I received it in .pdf format, and didn't know the best way to upload it...

[54anickel]

5. Ha! Thanks, that's a great graph.