Treasury will discontinue 3-year notes

[TechBear_Seattle]

Source: Associated Press

WASHINGTON - With budget deficits improving, the government said Wednesday it is discontinuing sales of three-year Treasury notes.

The Treasury Department said the last auction of three-year notes will occur next week as part of the regular series of quarterly debt auctions used to help finance the $8.8 trillion federal government debt.

The government's borrowing needs peaked in the 2004 budget year, when the federal deficit hit an all-time high in dollar terms of $413 billion. Since that time, the deficit has declined for three straight years and is projected to drop further this year.

Smaller budget deficits mean less need for the Treasury Department to sell bills, notes and bonds to the public. Treasury said it had decided to discontinue the three-year note in order to keep the amounts of the other securities at levels that would be popular with financial markets.



Read more: http://news.yahoo.com/s/ap/20070502/ap_on_bi_ge/federal_borrowing

[Donnachaidh]

1. There's nothing LEFT to sell to the general public

The Republics have sold everything else to the Saudis. :sarcasm:

[Javaman]

2. Budget deficits improving?

What planet is this person on?

the cost of the war hasn't been figured into it.

The next prez will be financially strangled once that number is added to the mix.

thanks to moron* we are in a permanent deficit crisis.

[TechBear_Seattle]

3. Yup

I posted this more for the claims that the deficit is improving than for the elimination of the 3 year notes. Although if you are a small investor, this is still bad news.

[Tempest]

6. Budget deficits are improving

Of course, it's because Bush is spending so much money off-budget and it isn't being counted towards the deficit.

Like the Iraq war spending.

[Demeter]

9. Now Bigger and Better Than Ever! That's Improvement!

And how about them potholes! New Orleans is one big one!

[Double T]

4. budget deficits are improving WHERE?

This nation is ACTUALLY bankrupt, in case anyone cares.

Read it and weep: http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=53413

[A HERETIC I AM]

5. World Net Daily?

You offer an article from World Net Daily as proof?

I find them about as credible as Fox.

The author of that article seems to confuse "Deficit" and "Debt"

2 totally different things.

[Double T]

8. You're in denial like bushco, facts are facts whether you want to pay attention......

to them or not. Don't like World Net Dailey? How about USA Today?

http://www.usatoday.com/news/washington/2006-08-02-deficit-usat_x.htm

[A HERETIC I AM]

10. I'm not in denial and i simply dispute the source, that's all....

But one has to admit, it is all about how you do the accounting.

Both articles bring up fair points, i just think using a source like World Net Daily is like using Fox News as a source.

Your point is well taken but i am by no means "in denial" and i resent you grouping me in with Bush. It isn't a tactic i would use on you.

[Double T]

12. Sorry if I insulted you, it was not intended. bushco appears to use.......

an obscure form of math which conveniently omits critical components required to provide REAL or ACTUAL totals for economic issues such as deficits, debt, inflation, employment, etc. RW sites or sources SOMETIMES have some of the best information to use against the current heinous regime; it is ironic. Again, please accept my apology and see you in a future thread.

[AnneD]

7. Budget deficits improving......

:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:

Next thing you know, you'll be telling me we can pay for the war by cutting taxes.:spray:

Yeah, maybe in fantasy land.

When the tide finally does go out, and it will, it will be interesting to see who's swimming naked.

[roamer65]

11. Here's what's happening.

1. They're using longer term T-bills to try to lock in lower longer term interest rates.
2. Since most of the world is now starting to shun this paper, the Federal Reserve is engaged in massive debt monetization. Why else did they discontinue M3 reporting? They want to hide the 12+ percent/annum money supply growth. Stagflation here we come!

[Double T]

13. Wonder when the dollar won't be worth the cost of the paper it is printed on?

What an economic disaster looms ahead.