9.20.23 The Treasury Department Could Have a Supply/Demand Problem
It’s been little over a month since rating agency Fitch downgraded U.S. government debt from its highest rating (AAA) to its second highest rating (AA+). Among other reasons, the agency cited “a high and growing general government debt burden” as a reason for the downgrade. If hoping the downgrade would serve as a wake-up call to Washington, it hasn’t. Since the debt ceiling debate was resolved back in June, the Treasury department has steadily increased the amount of Treasury debt outstanding. As of September 18, total debt outstanding stood at $33 trillion, which is up from the $31.5 trillion right before Congress ga
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