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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: ProtectOurFreedom

With term limits you guarentee the bureaucracy aka the deep state to run government as they please..

Repealing the 17th amendment and 16th amendment is the cure...

Our Founding Fathers were not stupid


61 posted on 05/05/2020 5:25:42 AM PDT by Article10 (Roger That)
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To: rx
He says that he never said those things and never worked in China...

Nobel laureate Tasuku Honjo refutes 'false' quote attributed to him about the novel coronavirus

62 posted on 05/05/2020 5:42:14 AM PDT by ProtectOurFreedom
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To: ProtectOurFreedom

Thanks. It appears I was given a false tip.
I’m glad we have a place to “kick these things around” before we go off any deep end.


63 posted on 05/05/2020 12:30:52 PM PDT by rx (Truth will out!)
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To: rx
Sure. I always listen to Honest Abe's advice...


64 posted on 05/05/2020 12:51:17 PM PDT by ProtectOurFreedom
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To: Morpheus2009

It’s back door Socialism. Socialism is great, until it isn’t. See UK. And Argentina.


65 posted on 05/07/2020 2:41:22 AM PDT by Texan4Life
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To: NRx

Who is going to be coming up with the money? If it’s the chicoms, they will have won two battles: crashing the US economy, and then making themselves part owners of it.


66 posted on 05/07/2020 6:30:43 AM PDT by I want the USA back (I fear my government more than the bug. I hate that which makes me afraid. And the media.)
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To: I want the USA back

The Federal Reserve is printing money to buy US Gov’t bonds.


67 posted on 05/07/2020 7:13:35 AM 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

I’m sorting thru the comments to see who we borrowed the money from...


68 posted on 05/07/2020 8:36:50 AM PDT by Iowa Granny (Clintion ruined a dress, but Obama ruined a Nation.)
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To: NRx

“It’s pretty sad when I am more solvent than the United States Government.”

Are you kidding? I have an actual positive net worth, laughable but positive. I’m 75 and the US government has not been in the black in my lifetime as far as I know. The possibility of it ever paying off the debt ended long ago. I see us going the way of Venezuela and soon barring something beyond my capacity to imagine and if that happens my little bit of net worth will vanish.


69 posted on 05/09/2020 8:49:19 AM PDT by RipSawyer
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To: NRx; Lurker
The Federal Reserve is printing money to buy the bonds.

Your statement makes no sense. The Federal Reserve does not print money.

70 posted on 05/11/2020 9:38:38 AM PDT by UCANSEE2 (Lost my tagline on Flight MH370. Sorry for the inconvenience.)
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To: UCANSEE2

The Federal Reserve controls the nation’s money supply. The term “printing” is the common (almost universally) accepted expression for the creation of fiat currency. So, yes they do print money, albeit they do so with a push of a button on a keyboard somewhere.


71 posted on 05/11/2020 9:42:43 AM 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: BatGuano
Get rid of the Federal Reserve system and pay off the national debt.

IIRC, SEVEN Presidents have tried to get rid of the FedRes system, and each have been assassinated or died under mysterious circumstances.

72 posted on 05/11/2020 9:44:40 AM PDT by UCANSEE2 (Lost my tagline on Flight MH370. Sorry for the inconvenience.)
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To: NRx

Although you are leaving out a lot of details, I’ll accept your notion of the FedRes ‘printing’ money.

Now, who or where is the FedRes ?


73 posted on 05/11/2020 9:57:24 AM PDT by UCANSEE2 (Lost my tagline on Flight MH370. Sorry for the inconvenience.)
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To: BatGuano
and pay off the national debt.

(1) Not possible.

(2) Even if possible, it would not be allowed.

(3)The FedRes system is designed to produce INTEREST payments. Without debt (the capital originally 'loaned') there are no interest payments.

The amount borrowed is just 1's and 0's in a computer, and some ink on paper.

The only 'debt' we have is the unpaid interest.

74 posted on 05/11/2020 10:08:11 AM PDT by UCANSEE2 (Lost my tagline on Flight MH370. Sorry for the inconvenience.)
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To: UCANSEE2

https://en.wikipedia.org/wiki/Federal_Reserve


75 posted on 05/11/2020 10:15:40 AM 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: UCANSEE2

This is obviously not true. The Federal Reserve was created in 1913 and only three presidents have died in office since then. One was assassinated by a communist. Rumors of a conspiracy were spread by leftists in order to sow doubts that it was one of their own who killed Kennedy. But there is not a shred of credible evidence that anyone else was involved and the idea that a POTUS could be murdered as part of a vast conspiracy without anyone talking or leaving a letter in a safe deposit box to be opened on their death is risible. Vincent Bugliosi has done a great job of blowing up the conspiracy nonsense. The other two died of natural causes from long diagnosed health problems.


76 posted on 05/11/2020 10:22:17 AM 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

Thank you for your response.


77 posted on 05/11/2020 1:16:29 PM PDT by UCANSEE2 (Lost my tagline on Flight MH370. Sorry for the inconvenience.)
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