Federal Borrowing Soars

Remember when Obama was borrowing trillions and everyone was screaming that this would lead to a disaster?  Today no one even cares how much the Fed Gov’t borrows. We have all concluded that debt is just part of life, and spending beyond our means is just something that will always happen.  Just wait until the Fed Gov’t has to borrow using another currency besides the US Dollar. Then we will see how devastating the consequences are.

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WASHINGTON—Borrowing by the federal government is set to top $1 trillion for the second year in a row as higher spending outpaces revenue growth and concern about budget deficits wanes in Washington and on Wall Street.

The Treasury Department said Monday it expects to issue $814 billion in net marketable debt in the second half of this calendar year, bringing total debt issuance to $1.23 trillion in 2019. That would represent a slight decline from borrowing in 2018, when the Treasury issued $1.34 trillion in debt—more than...

https://www.wsj.com/articles/treasury-to-borrow-over-1-trillion-in-2019-for-second-year-in-a-row-11564428624