{"id":36283,"date":"2018-07-31T06:45:44","date_gmt":"2018-07-31T11:45:44","guid":{"rendered":"http:\/\/olduvai.ca\/?p=36283"},"modified":"2018-07-31T06:45:44","modified_gmt":"2018-07-31T11:45:44","slug":"us-debt-sales-to-surge-treasury-raises-2018-borrowing-need-to-1-33-trillion","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=36283","title":{"rendered":"US Debt Sales To Surge: Treasury Raises 2018 Borrowing Need To $1.33 Trillion"},"content":{"rendered":"
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US Debt Sales To Surge: Treasury Raises 2018 Borrowing Need To $1.33 Trillion<\/span><\/a><\/h3>\n<\/div>\n
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America’s funding needs are starting to grow at a dangerous pace.<\/p>\n

Even before the NYT reported <\/a>of Trump’s startling suggestion of a further $100 billion tax cut in the form of an inflation-adjusted capital gains tax cost basis which mostly benefits the wealthy, earlier today the U.S. Treasury said it expects to borrow $56 billion more during the third quarter than previously estimated, while market participants expect shorter-dated Treasuries to absorb the brunt of the new supply as the Trump administration grapples with a mushrooming budget deficit.<\/p>\n

In the Treasury’s latest quarterly Sources and Uses table<\/a>, it revealed that it expects to issue $329 billion in net marketable debt from July through September, and $56 billion more than the $273 billion estimated three months ago, in April. <\/strong>assuming an end-of-September cash balance of $350 billion, matching its previous estimate. It also forecast $440 billion of borrowing in the final three months of the year, with a $390 billion cash balance on December 31.<\/p>\n

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The borrowing estimate for the third quarter is the highest since the same period in 2010 and the fourth largest on record for the July-September quarter, according to Reuters<\/a>. In the second quarter, net borrowing totaled $72 billion, slightly below the earlier prediction of $75 billion.<\/p>\n

The US fiscal picture continues to darken as a result of rising social security costs, military spending and debt service expenses while corporate tax income is declining after last year\u2019s tax reforms. As a result, the federal budget deficit is expected to reach $833 billion this year, up from $666 billion in the budget year ended last September<\/strong>, a number that is well below the net funding demands for the US Treasury.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

US Debt Sales To Surge: Treasury Raises 2018 Borrowing Need To $1.33 Trillion America’s funding needs are starting to grow at a dangerous pace. Even before the NYT reported of Trump’s startling suggestion of a further $100 billion tax cut in the form of an inflation-adjusted capital gains tax cost basis which mostly benefits the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[195,21025,827,1576,2202,4318],"class_list":["post-36283","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-federal-budget-deficit","tag-united-states","tag-us-debt","tag-us-treasury","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36283"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36283\/revisions"}],"predecessor-version":[{"id":36284,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36283\/revisions\/36284"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}