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  • smokingman

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    2   0   0
    Nov 11, 2008
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    Last year alone the Treasury Department had to raise nearly $20 trillion to repay maturing bonds. Plus, they borrowed an additional $2.4 trillion in brand new debt on top of the $20 trillion.

    Unbelievable.

    And so far in just the first three months of 2024, the Treasury Department has issued a record $7.2 trillion in government bonds– shattering the previous record for quarterly debt issuance that was set in 2020 during the pandemic.

    Out of last quarter’s $7.2 trillion debt issuance, roughly $600 billion of that was brand new debt… meaning that a whopping $6.6 trillion was borrowed to refinance existing debt.


    To put that number in context, the total combined value of all bank deposits in the United States is $17.5 trillion. So merely refinancing the federal debt that matured last quarter alone required the equivalent of 37% of all US bank deposits.


    Oh,and when that debt rolled over it is now at MUCH higher rates. Hell a 90day treasury is yielding close to 5% currently vs .25 just 4 years ago.
     
    Last edited:

    DadSmith

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    1   0   0
    Oct 21, 2018
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    Ripley County
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