The US needs to borrow almost $300 billion this week

[spanone]

Uncle Sam needs to borrow a ton of money this week — in the middle of a fight with its biggest creditor.

The United States plans to sell about $294 billion of debt, according to the Treasury Department. That's the highest for a week since the record set during the 2008 financial crisis.

Federal revenue is declining because of President Trump's tax cuts, so the government needs to borrow more to make ends meet. At the same time, Washington's borrowing costs have climbed rapidly in recent months.

"The amount of debt coming on the market this week is extremely large," said Rick Rieder, global chief investment officer of fixed income at BlackRock, the world's largest asset manager.

The government is auctioning all this short- and longer-term debt at an awkward time. Last week, Trump vowed to impose wide-ranging tariffs on China, which owns of more Treasury bonds than any foreign country.

http://money.cnn.com/2018/03/27/investing/us-debt-sale-record-treasury/index.html

[Wounded Bear]

1. Well, nobody saw that coming...

[spanone]

2. at least the rich folk got a humongous tax break....nothing's free

they learned NOTHING from looting the treasury last time

[Wounded Bear]

3. Mind over matter...

they don't mind and we don't matter.

[gratuitous]

7. What will they spend that tax break on?

My guess is buying up the debt the U.S. will be selling. It's a guaranteed investment, they'll get paid back and the Treasury won't have any money to waste on schools or roads or public health. In fact, maybe it's time to cut "entitlements" a little more?

[greatauntoftriplets]

4. Maybe the Russians will buy it this time around.

That way Spanky will be even more in debt to them.

[former9thward]

5. What are you suggesting?

That China won't buy U.S. debt? They will continue to do so because our economy is far more stable than theirs and our government is far more stable than theirs.

[blake2012]

9. Let me put it this way. The cash flow picture will look bleak soon

When the US Treasury has to raise so much money and interest rates are rising, treasury yields will have to rise with them.

This means the US cost of capital is rising at the same time the US need to raise buckets more money as tax cuts and revenue decline starts occurring in 2018.

[Doodley]

6. Borrowing more and more money to give it to the wealthiest. Makes a lot of sense!

[FarCenter]

8. It's high due to tax refund season.

[blake2012]

10. No, its high because of the cycles of T-bills maturing and being paid