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Treasury plans to borrow $3 trillion from April through June as enormous coronavirus costs pile up
WaPo ^ | 05-04-2020 | Rachel Siegel

Posted on 05/04/2020 12:13:10 PM PDT by NRx

The Treasury Department plans to borrow $2.99 trillion from April through June to cover the federal government’s massive response to the coronavirus pandemic, issuing a tremendous level of debt to try and limit the economic impact on U.S. businesses and workers.

Last year, Treasury borrowed $1.28 trillion over 12 months. The $3 trillion in borrowing Treasury plans to do now would be done over just three months.

Congress has approved nearly $3 trillion in new spending in the past two months to try and arrest the economic fallout of the crisis. Because revenue levels are falling, Treasury is planning to issue large amounts of debt to cover these costs.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Front Page News; Government
KEYWORDS: debt; deficit
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To: NRx

China has succeeded in bringing US to its knees without firing a shot!


21 posted on 05/04/2020 12:31:45 PM PDT by entropy12 (covid-19 separates the fearful from the freedom loving! If I am not afraid, no one should be.)
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To: P.O.E.

1-800-TERM-LIMITS.

Unfortunately, I get “All our representatives are busy due to unexpectedly high call volumes. Press 1 and we will call you back in 154 years.”


22 posted on 05/04/2020 12:32:22 PM PDT by ProtectOurFreedom
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To: NRx

Borrow it from who?

L


23 posted on 05/04/2020 12:32:27 PM PDT by Lurker (Peaceful coexistence with the Left is not possible. Stop pretending that it is.)
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To: Bob434

We are “...making it up on volume.”


24 posted on 05/04/2020 12:33:05 PM PDT by ProtectOurFreedom
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To: BenLurkin

Pretty soon they’ll have to send $100,000/month to every household to keep up with the cost of bread.

This will not end well at all.


25 posted on 05/04/2020 12:33:31 PM PDT by Deo volente ("When we see the image of a baby in the womb, we glimpse the majesty of God's creation." Pres. Trump)
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To: NRx

Funny money, fiat currency. Now that The Fed is under Dept of Treasury (while everyone was looking “virus”), after the election the debt is renegotiated or forgiven, and we go on the gold standard.


26 posted on 05/04/2020 12:35:22 PM PDT by Chauncey Gardiner
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To: Lurker

The Federal Reserve is printing money to buy the bonds.


27 posted on 05/04/2020 12:35:51 PM PDT by NRx (A man of honor passes his father's civilization to his son without surrendering it to strangers.)
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To: NRx

Have we gone past the debt ceiling with all this recent spending? Did the legislation passed include language to increase the debt ceiling?

Or did the legislation qualify as some sort of emergency legislation, which is technically funded “off budget” somehow?

Anyone know?

Fiscal sanity is hard to find in Washington in the best of times. I just wonder is that any restraint of any kind, such as the need to debate the debt ceiling issue, which can place a cap on total expenditures, as popular as the spending to counteract the virus impacts is?


28 posted on 05/04/2020 12:38:36 PM PDT by Dilbert San Diego
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To: NRx
Good ol’ Fed. It can always be counted on to accommodate the government's voracious spending addiction.
29 posted on 05/04/2020 12:39:53 PM PDT by fhayek
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To: NRx

Bullshit.


30 posted on 05/04/2020 12:41:22 PM PDT by glock rocks (orange man bad-ass)
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To: ProtectOurFreedom

lol had a friend that used to say “I’m losing money on thi,s but I’ll make it up in volume”


31 posted on 05/04/2020 12:41:28 PM PDT by Bob434
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To: NRx

From themselves? Sounds like they are twisting themselves into pretzels to avoid saying they are just printing cash.

Who is going to actually buy $3T in bonds at the drop of a hat? Who is receiving the interest payment?


32 posted on 05/04/2020 12:42:32 PM PDT by hopespringseternal
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To: BenLurkin

I will need a money printing machine to keep up with the inflation which is coming.


33 posted on 05/04/2020 12:43:09 PM PDT by entropy12 (covid-19 separates the fearful from the freedom loving! If I am not afraid, no one should be.)
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To: A Navy Vet

For $5 to $10 a year for absorbable zinc supplements (zinc oxide in multivitamims-as with multivitamins made in China- is not absorbed by immunologic functioning cells), viral replication by viruses can be controlled so that viral repliocation does not outpace antibody formation and thus epidemics cannot occur.

This has been known since 1985, and zinc packs have been used after colds appear to shorten the course and minimize signs and spmptoms of colds. There has been no effort to educate the public that taking a zinc supplement year round that practically all viral exposures will expand to produce disease if a person has normal zinc levels WITHIN CELLS.

Why there is no rush to inform the public to take zinc so that national economic collapse does not occur, and that zinc sufficiency will prevent epidemics and requirements for national behavior modification as with social distancing is beyond me. We are being disinformed as regards actual facts about the necessity of zinc supplements for supression of common viral diseases in the US, actually making a flu or Covid-19 vaccine actually necessary. Social distancing also prevents herd immunity from occurring between zinc sufficient persons, a minority of the US population.

If one reads nutritional articles, probably 2/3rds of US citizens have some degree of malnutriton. Obesity, nearing 50% presentation in the US is by definition a form of malnutrition. We, as Europe are virus ready nations, prepped for vaccines that are not needed by nutritionally competent countries. I cannot think of a country today that advocates real preventive nutritional medicine especially regarding zinc, magnesium, selenium and their importance to immunological competence.

There is 100% avoidanc as regards central role in suppressing viral replication, and in the meanwhile we are killing the US in more ways than one all at once for ignorance just as regards zinc supplementation.

Zinc is a far more important prevention of herd disease than vaccines are. In zink sufficient persons, vaccines are not necessary as antibodies in excess of the viral loads allowed to grow deactivate the viruses. Good nutrition is necessary for normal suppression of viral and bacterial diseases.

Third world country migrants come from very malnourished countries and bring their diseases with them. Do not count on any of them being zinc, magnesium, selenium sufficient.


34 posted on 05/04/2020 12:44:16 PM PDT by givemELL
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To: NRx

Borrowing from what... Social Security?


35 posted on 05/04/2020 12:53:39 PM PDT by fso301
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To: Trumpisourlastchance

Im glad my use by date is approaching


36 posted on 05/04/2020 12:54:57 PM PDT by al baby (Hi Mom Hi Dad)
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To: NRx

“The Federal Reserve is printing money to buy the bonds.”

With ink cartridges made in China


37 posted on 05/04/2020 12:56:35 PM PDT by al baby (Hi Mom Hi Dad)
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To: NRx

How much of it is actually going into the virus? How much of it is pork?


38 posted on 05/04/2020 12:58:23 PM PDT by Morpheus2009
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To: NRx

Actually, it’s only $2,999,999,999,999.99, so don’t worry.


39 posted on 05/04/2020 1:01:21 PM PDT by Uncle Miltie (BOYCOTT CHINA! - spread the word .... (China is the Sick Man of Asia with a very small penis))
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To: givemELL

Not only that but obesity and smoking are other big risk factors for COVID-19.


40 posted on 05/04/2020 1:01:24 PM PDT by Morpheus2009
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