US Borrowed $104 billion Last Week

[wwswimming]

$31 billion in 3-month bills
$27 billion in 7-year notes
$40 billion in 2-year notes
$37 billion in 5-year notes
$30 billion in 6-month bills

... from Denninger @
http://market-ticker.denninger.net/categories/15-Bonds

what's happening is, the US gov is financing the 2009 deficit ($1.5+ trillion) and the roll-over of about half of the national debt (half of $10+ trillion), in 2009.

seems like their borrowing needs will soon exceed the lending ability of the usual creditors.

anybody know a financial website where you can get more info on US government borrowing/ printing ?

 

[techs]

Unemployment has just surpassed 10 percent in many states despite the stimulus.
It's safe to say that without it we would be looking at 20-30 percent unemployment and a collapse of US banks, stock market, credit markets, etc.
Basically another Great Depression.
If only Bush and the Repugnicans hadn't screwed us so badly we wouldn't have had to borrow such huge sums just keep America from disaster.

 

[BoberFett]

Yes, damn the Republicans and their congressional majority in 2007 and 2008!

 

[masteryoda34]

Originally posted by: BoberFett
Yes, damn the Republicans and their congressional majority in 2007 and 2008!

+1

 

[techs]

Originally posted by: BoberFett
Yes, damn the Republicans and their congressional majority in 2007 and 2008!

That's about as bogus a response I have ever heard.
The Republicans had an absolute majority for years.
And in 2007 and 2008 they could block any attempt to overturn the Bush debacle with a Bush veto or their filibusters.

Try being honest for change.

 

[Slew Foot]

Originally posted by: techs

Originally posted by: BoberFett
Yes, damn the Republicans and their congressional majority in 2007 and 2008!

That's about as bogus a response I have ever heard.
The Republicans had an absolute majority for years.
And in 2007 and 2008 they could block any attempt to overturn the Bush debacle with a Bush veto or their filibusters.

Try being honest for change.

Just as easily as Obama could have reversed all the stuff when he took officr. But he didnt.

 

[jpeyton]

Originally posted by: Slew Foot

Originally posted by: techs

Originally posted by: BoberFett
Yes, damn the Republicans and their congressional majority in 2007 and 2008!

That's about as bogus a response I have ever heard.
The Republicans had an absolute majority for years.
And in 2007 and 2008 they could block any attempt to overturn the Bush debacle with a Bush veto or their filibusters.

Try being honest for change.

Just as easily as Obama could have reversed all the stuff when he took officr. But he didnt.

Ctrl+Z?

:laugh:

 

[soccerballtux]

Originally posted by: techs
Unemployment has just surpassed 10 percent in many states despite the stimulus.
It's safe to say that without it we would be looking at 20-30 percent unemployment and a collapse of US banks, stock market, credit markets, etc.
Basically another Great Depression.
If only Bush and the Repugnicans hadn't screwed us so badly we wouldn't have had to borrow such huge sums just keep America from disaster.

LMAO. None of it has even been spent yet. You are too funny techs. Troll, troll, troll your boat... Tell you what, Obama should just send everyone a check for $1m and be done with it. That would keep us out of recession.

 

[Jaskalas]

Originally posted by: Slew Foot
Just as easily as Obama could have reversed all the stuff when he took officr. But he didnt.

How would anything be solved if not through them, and without trillions of dollars?

 

[OCGuy]

Originally posted by: techs
Unemployment has just surpassed 10 percent in many states despite the stimulus.
It's safe to say that without it we would be looking at 20-30 percent unemployment and a collapse of US banks, stock market, credit markets, etc.
Basically another Great Depression.
If only Bush and the Repugnicans hadn't screwed us so badly we wouldn't have had to borrow such huge sums just keep America from disaster.

If it collapses still, even though Obama has mortgaged our future even further, Dems are fucked.


The "bailouts" and spending on healthcare are all on Obama in the public's eyes. Just watch.

 

[techs]

Originally posted by: Slew Foot

Originally posted by: techs

Originally posted by: BoberFett
Yes, damn the Republicans and their congressional majority in 2007 and 2008!

That's about as bogus a response I have ever heard.
The Republicans had an absolute majority for years.
And in 2007 and 2008 they could block any attempt to overturn the Bush debacle with a Bush veto or their filibusters.

Try being honest for change.

Just as easily as Obama could have reversed all the stuff when he took officr. But he didnt.

I guess if he was a dictator. In fact didn't Bush claim how easy it would be to rule if he were a dictator?
If you recall when Obama proposed rolling back the Bush tax cuts on the richest, the Repubicans said "filibuster" and they would essentially filibuster everything, so Obama had to agree to keep them in place til they ran out.

You can run, but you can't hide from the massive, monumental Republican screw up from taking a surplus and turning it into a huge deficit and an economic collapse.
No matter how you try and spin it, the Repugnicans failed so miserably it was epic.

 

[Fear No Evil]

Originally posted by: techs
Unemployment has just surpassed 10 percent in many states despite the stimulus.
It's safe to say that without it we would be looking at 20-30 percent unemployment and a collapse of US banks, stock market, credit markets, etc.
Basically another Great Depression.
If only Bush and the Repugnicans hadn't screwed us so badly we wouldn't have had to borrow such huge sums just keep America from disaster.

Obama said if we didn't do the stimulus package we would reach 10% unemployment... Oops.. What else is he wrong on?

 

[rudder]

Originally posted by: soccerballtux

Originally posted by: techs
Unemployment has just surpassed 10 percent in many states despite the stimulus.
It's safe to say that without it we would be looking at 20-30 percent unemployment and a collapse of US banks, stock market, credit markets, etc.
Basically another Great Depression.
If only Bush and the Repugnicans hadn't screwed us so badly we wouldn't have had to borrow such huge sums just keep America from disaster.

LMAO. None of it has even been spent yet. You are too funny techs. Troll, troll, troll your boat... Tell you what, Obama should just send everyone a check for $1m and be done with it. That would keep us out of recession.

$330,000,000,000,000

I don't think even China has that much dough!

But really techs...are you such a hack that you can completely ignore the democrats role in this fiasco? For every link showing a bush admin policy that brought us here... I can show a link that shows the democrats culpability. But people like you just ignore it and think that the only answer is for Obama to finish nailing our financial coffin. I just don't get it.

 

[Vic]

The US would be selling bonds even if the budget were in a surplus.

 

[JS80]

The Chinamen are just eating it up. Let them buy our toilet paper and give us our money back.

 

[ProfJohn]

Originally posted by: techs

Originally posted by: BoberFett
Yes, damn the Republicans and their congressional majority in 2007 and 2008!

That's about as bogus a response I have ever heard.
The Republicans had an absolute majority for years.
And in 2007 and 2008 they could block any attempt to overturn the Bush debacle with a Bush veto or their filibusters.

Try being honest for change.

It was the Democrats who stood in the way when we tried to reign in Fannie and Freddie. Or did you forget those great Barney Frank quotes?

 

[Craig234]

Originally posted by: OCguy

Originally posted by: techs
Unemployment has just surpassed 10 percent in many states despite the stimulus.
It's safe to say that without it we would be looking at 20-30 percent unemployment and a collapse of US banks, stock market, credit markets, etc.
Basically another Great Depression.
If only Bush and the Repugnicans hadn't screwed us so badly we wouldn't have had to borrow such huge sums just keep America from disaster.

If it collapses still, even though Obama has mortgaged our future even further, Dems are fucked.


The "bailouts" and spending on healthcare are all on Obama in the public's eyes. Just watch.

That's like saying if the firefights can't save the house you set on fire, THEY'RE screwed, it becomes their fault.

No, if the economy still crashes, the nation is screwed, and it remains the fault of many - the Republicans who competely sold out and whose ideology was behind the problems being allowed to happen; the Democrats who voted for them as well, whether misguided or paid off; the private sector that acted recklessly, but they're the least to blame in a way because *it's in their charter to maximize profit regardless of screwing the nation*, and short-term competitive pressure can force them to do bad things; and voters who put the bad politicians in office. Those are many of the people; it's ot just people but also the system allowing the campaign financing that lest the wealthy have too much influence.

The healthcare SHOULD be on Obama. If it goes well, the credit, if badly, the blame.

 

[bamacre]

Originally posted by: JS80
The Chinamen are just eating it up. Let them buy our toilet paper and give us our money back.

Inflating our way out of debt is not a trick up our sleeve, it is an act of dire desperation.

 

[JS80]

Originally posted by: bamacre

Originally posted by: JS80
The Chinamen are just eating it up. Let them buy our toilet paper and give us our money back.

Inflating our way out of debt is not a trick up our sleeve, it is an act of dire desperation.

The faster the republic fails and the toilet paper known as the constitution can be re-written with more absolute protections.

 

[Xellos2099]

Originally posted by: ProfJohn

Originally posted by: techs

Originally posted by: BoberFett
Yes, damn the Republicans and their congressional majority in 2007 and 2008!

That's about as bogus a response I have ever heard.
The Republicans had an absolute majority for years.
And in 2007 and 2008 they could block any attempt to overturn the Bush debacle with a Bush veto or their filibusters.

Try being honest for change.

It was the Democrats who stood in the way when we tried to reign in Fannie and Freddie. Or did you forget those great Barney Frank quotes?

People insist Fannie and Freddie are just a very small and VERY minor part of the problem. As for Frank's quote.... people have selective memory.

 

[JS80]

Originally posted by: Xellos2099

Originally posted by: ProfJohn

Originally posted by: techs

Originally posted by: BoberFett
Yes, damn the Republicans and their congressional majority in 2007 and 2008!

That's about as bogus a response I have ever heard.
The Republicans had an absolute majority for years.
And in 2007 and 2008 they could block any attempt to overturn the Bush debacle with a Bush veto or their filibusters.

Try being honest for change.

It was the Democrats who stood in the way when we tried to reign in Fannie and Freddie. Or did you forget those great Barney Frank quotes?

People insist Fannie and Freddie are just a very small and VERY minor part of the problem. As for Frank's quote.... people have selective memory.

FNM and FRE balance sheets combine for almost $2 trillion. Not that minor.

 

[Xellos2099]

Say it to the one who claim that Bush is responsible for the financial meltdown.

 

[SunSamurai]

When was the last time this country was in a surplus?

 

[Craig234]

Originally posted by: SunSamurai
When was the last time this country was in a surplus?

As far as the annual deficit, 2000, and before Clinton, 1969. As far as the nation - I don't recall now, but a very long time ago, and it's unlikely to ever happen.

 

[heyheybooboo]

Originally posted by: Vic
The US would be selling bonds even if the budget were in a surplus.

This.
Why would the government not refinance it's debt to save interest?

Most Federal paper has an early call date written on its face to which it is subject.

"3-MONTH AUCTION HIGH BILL RATE BY ISSUE DATE"

1979: 10.05%
1980: 11.51%
1981: 14.03%
1982: 10.69%
1983: 8.63%
1984: 9.53%
1985: 7.47%
1986: 5.98%
1987: 5.82%
1988: 6.69%
1989: 8.12%
1990: 7.51%
1991: 5.42%
1992: 3.45%
1993: 3.02%
1994: 4.29%
1995: 5.51%
1996: 5.02%
1997: 5.07%
1998: 4.81%
1999: 4.66%
2000: 5.66%

Originally posted by: wwswimming ~ ~ ~

anybody know a financial website where you can get more info on US government borrowing/ printing ?

Treasury Direct

U S Treasury The Federal Debt to the Penny - search application

They used to have specific data in tables that went back 50 years but Bush dropped that.

$ 833,484,299,633.84 (That's $834 billion)
Accumulated Federal Debt in the last 120 days of the Bush Administration

$ 774,205,252,456.31
Accumulated Federal Debt in the first 151 days of the Obama Administration

Needless to say at nearly $7 billion per day in Federal Debt, the Shrub is the Wiener. That works out to an annualized Federal debt of over $2.5 trillion, or around 17% of GDP.

As a percent of GDP it is no contest - Reagan's annual Federal debt exceeded 18% of GDP on several occasions.

Here is some historical data from the Federal Reserve on public and private paper.

Originally posted by: wwswimming ~ ~ ~

seems like their borrowing needs will soon exceed the lending ability of the usual creditors.

not hardly
(as long as our faith in the solvency of the US banking system remains)

Originally posted by: SunSamurai
When was the last time this country was in a surplus?

From FY1998 to FY2000 the Unified Budget was in surplus.