(Harvest) The Treasury Department estimated that it will borrow $955 billion in FY 2018. If the amount is correct (and it may not be), it will represent an 84% increase over the $519 billion Treasury borrowed for FY 2017. This huge increase is clearly not taking us in the right direction, and it’s more than can be accounted for by lower tax revenues. Nor is it a one-time blip. The same report forecasts borrowing of $1.083T in FY 2019 and $1.128T in FY 2020.
Markets Are Starting to Realize the Threat of Ever-Increasing US Debt
This entry was posted in Syndicated. Bookmark the permalink.