US Treasury's Exploding Debt

No wonder Tim Geithner has requested an increase in the US debt limit (whatever limit means). The US has borrowed a half trillion dollars in less than two months.

The treasury will be borrowing billions more next week: $109 Billion in Treasury Bonds, as well as 88 Billion in Treasury Bills, for a total of $197 Billion!

This follows a busy July when the Treasury issued $229 Billion in Bonds and Bills, the first two weeks of August saw $75 Billion in Bonds, and is now launching another $109 Billion in Bonds, and $88 Billion in Bills: in two months alone, the USA will have printed just over half a trillion in new debt. Warren Buffet said this week that the U.S is on the road to becoming a Banana Republic - Lou

Here is the auction schedule :

$31 Billion in 13 Week Bills, August 24
$30 Billion in 26 Week Bills, August 24
$27 Billion in 52 Week Bills, August 25
$42 Billion in 2 Year Notes, August 25
$39 Billion in 5 Year Notes, August 26
$28 Billion in 7 Year Notes, August 27