Only a matter of time before we have to pay the piper. Any downturn in the economy could break the camel’s back:
The United States plans to sell about $294 billion of debt, according to the Treasury Department. That’s the highest for a week since the record set during the 2008 financial crisis.
Federal revenue is declining because of President Trump’s tax cuts, so the government needs to borrow more to make ends meet. At the same time, Washington’s borrowing costs have climbed rapidly in recent months.
“The amount of debt coming on the market this week is extremely large,” said Rick Rieder, global chief investment officer of fixed income at BlackRock, the world’s largest asset manager.