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Politics : American Presidential Politics and foreign affairs
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To: E. T. who wrote (29839)11/5/2008 7:52:35 PM
From: DuckTapeSunroof  Read Replies (2) of 71588
 
The U.S. government is on course for an unprecedented borrowing binge in coming months, a development that could constrain President-elect Barack Obama's economic agenda.

The Treasury Department laid out near-term borrowing plans Wednesday, saying it expects to tap financial markets for $550 billion in the final three months of 2008 and another $368 billion in the first three months of next year through issuing Treasury securities with a wide range of maturities.

Economists project that total government borrowing could pass $1.5 trillion in the fiscal year, which ends next September, in one year pushing up the government's total debt burden by more than 25%, a large and possibly jolting increase.


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