Economics
U.S. Record Debt Sales Continue as Deficits Head to $1 Trillion
- Treasury sets auction sizes for next week in refunding
- Government to boost TIPS sales in continuation of overall plan
Pedestrians walk near the U.S. Treasury building in Washington, D.C.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The U.S. Treasury Department announced plans to maintain record debt sales as Republicans and Democrats continue a spending frenzy that’s widening the deficit even as economic growth remains solid.
President Donald Trump is set to sign legislation to suspend the debt limit and boost domestic and defense spending, pushing the annual budget deficit over $1 trillion. That’s driving Treasury to keep its long-term debt issuance at a record $84 billion for the third consecutive quarter, the agency announced Wednesday. The deficit was $779 billion in fiscal 2018.