Treasury's Current Quarter Debt is Less Than Prior Forecast, Though Will be Second-Highest on Record

Before you go, we thought you'd like these...
Before you go close icon

The U.S. Treasury Department will issue the second-largest quantity of debt ever for the fourth quarter of this calendar year. However, the quality is less than previously forecast because of a higher-than-expected government cash balance as of Sept. 30.

Sponsored Links

The Treasury Department said Monday that it will issue $362 billion in debt -- less than the $379 billion it forecast in August. The government had a $310 billion cash balance on Sept. 30, up from the $270 billion balance it estimated in August.

The federal government has amassed near-record levels of debt as it seeks to pump life into the U.S. economy, which, by some economists' measures, exited its most recent recession in June 2009. The $362 billion in new debt trails only the $569 billion taken out during the fourth quarter of 2008, when the government was in the process of funding the $700 billion financial bailout, according to the Associated Press.

For the quarter ending March 31, the federal government expects to issue $431 billion of debt, the Treasury Department said Monday.

Read Full Story

Markets

S&P 500 2,204.71 12.76 0.58%
DJIA 19,216.24 45.82 0.24%
NASDAQ 5,308.89 53.24 1.01%
DAX 10,681.06 -3.77 -0.04%
HANG SENG 22,675.15 169.60 0.75%
NIKKEI 225 18,360.54 85.55 0.47%
USD (per EUR) 1.08 0.00 0.26%
USD (per CHF) 1.01 0.00 -0.13%
JPY (per USD) 113.88 0.02 0.02%
GBP (per USD) 1.28 0.00 0.36%

From Our Partners