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To: John McCarthy who wrote (89650)	11/3/2008 3:16:28 PM
From: John McCarthy	Respond to of 116555

Treasurys slightly higher; lending rates fall on growing supply to fund liquidity initiatives amid dour economic outlook. <snip> NEW YORK (CNNMoney.com) -- Treasurys edged higher Monday as investors balance ongoing recession fears with anticipation that the government will again announce billions of dollars worth of government debt auctions this week to fund its financial rescue programs. The government may need to finance about $1 trillion in programs that need funding by the end of the year, which will bring a great deal more supply to the market. Last week, the Treasury auctioned $34 billion of 2-year notes, $24 billion of 5-year bonds, and $27 billion in 4-week bills money.cnn.com

To: John McCarthy who wrote (89650)	11/3/2008 4:23:29 PM
From: benwood	1 Recommendation Read Replies (1) \| Respond to of 116555

OMG, we might hit a trillion in debt in '09!?! That would be a first, er... SECOND time that has happened. Here's the last fiscal year debt as reported by the US Treasury (I don't pay any attention to the BS put out by the Administration): From the US Treasury web: date public debt intra-gov't holdings total public debt ---------- ------------------- ------------------ -------------------- 09/28/2007 5,049,305,502,926.48 3,958,347,869,336.00 9,007,653,372,262.48 09/30/2008 5,808,691,665,403.71 4,216,033,231,508.78 10,024,724,896,912.49 1-year deficit: 1,017,071,524,650.01 Debt from October 31st to October 31st looks far worse: date public debt intra-gov't holdings total public debt ---------- ------------------- ------------------ -------------------- 10/31/2007 5,067,078,546,655.56 4,012,007,639,210.72 9,079,086,185,866.28 10/31/2008 6,302,793,747,598.97 4,271,300,715,369.26 10,574,094,462,968.23 1-year deficit: 1,495,008,277,101.95 A better question is this: Will the annual debt ever be BELOW one trillion dollars again?