Treasury says it will borrow $32 billion

[deadparrot]

WASHINGTON - The government will raise $32 billion next week as part of a total of $63 billion in borrowing planned for the final three months of this year, the Treasury Department announced Wednesday.

The government said next week's borrowing, known as a quarterly refunding, would consist of $19 billion in three-year notes auctioned on Nov. 1 and $13 billion in 10-year notes auctioned on Nov. 2.

The rest of the borrowing needs for the quarter will be accomplished through other debt auctions including the regular weekly auction of three-month and six-month bills.

The $63 billion in borrowing planned for this quarter was $41 billion lower than an estimate made in July. The government attributed the improvement in part to an unexpected flood of tax revenues in recent months.

http://news.yahoo.com/s/ap/20061101/ap_on_bi_go_ec_fi/treasury_borrowing

[grasswire]

1. and they aren't paying Medicare fees 'til after 12/31 (eom)

[Double T]

4. Got to love that bushco 'creative accounting and funding'...........

can't wait till the end of HIS term when the REAL HORROR of HIS deficit spending is realized by the NEXT ADMINISTRATION.

[Atman]

2. From who, Rumsfeld and Cheney?

.

[BrokenBeyondRepair]

5. from the central bank.. just like the manifesto says

buy gold

[htuttle]

10. From Hu.

[sarcasmo]

15. China would be my guess.

[htuttle]

16. Yup, Hu Jintao, our pusherman

He's got a nice little gig going there. First, we send him all of our money in exchange for small plastic trinkets and support the troops magnets, then he lends it back to us with interest. Finally, using the profit from all that he snaps up any available oil resources through co-investment. Bada bing, bada boom...

[sarcasmo]

19. It's a great racket and the Decider wonders why China won't fall for it.

Dumb as a box of rocks, the Decider is.

[RUMMYisFROSTED]

21. Classic.

I wish I'd wrote it. Is that Wong of me?

:hide:

[lumpy]

3. GOP Party of 'borrow and spend'.

US taxpayers will be holding the bag for the next 50 years (at least)

[lyonn]

6. How much interest will "we" be charged on these

auctioned notes in the Billions of dollars? This is not in the news, never is. Looking on the "good" side, it was 20 Billion less than expected?!

Edit: Who will be the owners of these notes worth Billions of dollars? My uneducated guess is China? The Saudies? Same questions for all the $$ that has been borrowed for Halliburton, et al. that the tax payers must repay. And we think MasterCard has us by the tail, ha.

[truthisfreedom]

7. the pattern bush/cheney has is to over-estimate the amount needed so

that the actual amount, while higher than anything in history, is lower than their outrageous estimate and they can pretend to gloat as they empty the coffers into the pockets of their standby cronies.

[Parche]

8. debt

Butt, Butt, he halved the debt, how could this be???????? sarcasm

[NVMojo]

9. huge story, little play ...

[Divine Discontent]

18. just a HUGE story!!!

I agree, they don't wanna talk about, poor ratings my guess.

of course when the country collapses in xx years, a quarter of billion people will yell how????

they should do a commercial about this and show a pile of credit slips in the billions, and then have them fall on top of the United States to a loud chorus of screams.......... it's not far from the truth... the visual wouldn't be too harsh and the screaming would get people's attention. and the final words in black & white, "THE REPUBLICANS HAVE ADDED X TRILLION TO OUR NATIONAL DEFICIT IN THE PAST 6 YEARS, STOP THEM NOW!"


www.cafepress.com/warisprofitable <<-- antibush prodem stickers/shirts

[dazzlerazzle]

11. borrowing to run your country

The last thing I remember is that one out of every six dollars it takes to run the government is borrowed. Sort of like relying on credit cards to live from paycheck to paycheck.

[lumpy]

12. GOP borrow and spend

kick

[PuraVidaDreamin]

13. We'll be paying for Bush's failed war far into the future.

n/t

[pacalo]

14. The borrowed money will be coming from foreign countries, right? Like China?

Treasury is projecting that the government will need to borrow a record $175 billion in the first three months of 2007 as the federal budget deficit resumes an upward climb.

The government is required to borrow billions of dollars each week to finance the shortfall between tax collections and spending. Part of that money goes to pay the interest on the national debt, which now stands at $8.48 trillion.

How absolutely irresponsible.

[gulfcoastliberal]

17. Not irresponsible- part of their heinous Norquist plan to kill govt

services such as medicaid, medicare, and social security. They want to bankrupt us so we become a neofeudal banana republic. Seems we're at least halfway there.

[pacalo]

23. Right on, gulfcoast, & that's the evil part.

I'll assume the 29% of voters who still support the neocons approve of our country being beholden to foreign countries?

[anotherdrew]

26. and the rich can use their tax cuts to buy them...

thus getting paid back in full plus interest

[femrap]

20. The Chinese have said that they

have enough US Treasuries.

It's gonna get ugly.

[Anakin Skywalker]

22. Who is the lender? The Bank of Mars?

[Fire Walk With Me]

24. With Wolfowitz in charge of the World Bank, BushCo have friends everywhere.

And I'm worried about what another terrorist attack or natural disaster would do to the economy. They might suggest tapping all that juicy Social Security money, and we'd never see it again. Not that they would ever take advantage of such an opportunity to profit, grab power, and resources.

[FernBell]

25. borrow and spend...borrow and spend...borrow and spend...borrow and spend...