Thursday, April 2, 2009

Dark Clouds in the Fiscal Sky

The first link is to the tentative Treasury auction calendar. Every month looks like the quarterly refunding nowadays.

The second link is to a 2008 GAO report about the financial prospects of the U.S. Government. It highlights the Social Security problem in the not so distant future. Obviously, the situation has gotten worse since the publication of the report....

As of 10/3/08, the limit on the public debt was raised to $11.315 trillion. Most estimates place the current level at about $11.1 trillion today. Get ready for some horse trading in about six weeks.

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