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The US government increased its total debt by $69 billion in June. The average interest rate on all of that debt is also going up, a growing problem for the borrow and spend government. The Treasury Department continues to roll short-term Treasury Bills into longer-dated securities, allowing $148B in Bills to roll off the debt […]
The Treasury increased the total debt by $125B in May after a brief drop in April. This brings the total debt increase so far in 2022 to $880B. More importantly, though, the cost to service the debt is exploding. Total annualized interest has increased by $40B or 13.5% since the start of the year!
The Treasury ran a budget deficit of $193B in the month of March. This exceeded the 12-month average of $144B. Over the last year, the Treasury has seen a massive influx of Individual tax revenues that have helped support the ballooning Federal Deficit. Unfortunately, spending has been so high that the additional revenue did not […]
The US Treasury added $111 billion in debt during March. Meanwhile, rising interest rates are already creating problems for Uncle Sam. Annualized interest on the US debt has increased by over $16 billion in just six months. Following is an analysis of US debt holdings.
In January, the US Treasury realized its first surplus in 2.5 years. The surplus was short-lived. The Treasury went in the red by $216.6 billion in February.
Debt issuance by the US Treasury has fallen since the binge in December when the Treasury had to replenish its “extraordinary measures” stockpiles (government employee retirement funds) after the end of the “debt ceiling” debate. Still, issuance remains relatively high. The Treasury added another $278 billion in debt during February. Similar to January, the Treasury […]
Even with the taper, the Fed continues to expand its balance sheet. And it’s not tapering the purchase of mortgage-backed securities (MBS) nearly as fast as advertised.
The US Treasury realized a monthly surplus of $118.7 billion in January. It was the first budget surplus since September 2019 and the largest since it realized a $160 billion surplus in April of 2019. The surplus was driven by high revenue from a continued surge in Individual Taxes. This was combined with shrinking expenditures […]
The Treasury added almost $400 billion of debt in January, the third most since July 2020. As the month closed out, the national debt eclipsed $30 trillion. The other two larger debt increases both came right after the debt ceiling was raised. Perhaps most important is the fact that almost $200B of the newly added […]
The debt ceiling was raised in December and the Treasury responded immediately, adding $709 billion in debt over the month. To be fair, $470 billion of this was non-marketable, as shown below. Note: Non-Marketable consists almost entirely of debt the government owes to itself (e.g., debt owed to Social Security or public retirement)
