>

U.S. National Debt Paydown Expected this Quarter

April 30th, 2013
in econ_news, syndication

Econintersect:  The headline is no joke.  The U.S. Treasury expects to reduce the breaking-news-130px7national debt with a $35 billion surplus in the second quarter of 2013.

Only two months ago the projection had been for a $103 billion deficit.  Details of the quarterly borrowing schedule are due out tomorrow (Wednesday 01 May 2013).  The last time there was a quarter with a reduction in the national debt was in 2007.  And before that there were several quarters with national debt reduction 1998-2000. And before that it happened in 1969-1970.

Follow up:

What do those three previous debt paydowns have in common?  They all preceeded recessions.

The likelihood of a persistence of debt reduction beyond the current quarter is unlikely.  The Treasury expects the national debt to be growing again with $223 billion needed in new debt in the third quarter.  For the entire fiscal year 2013 the CBO (Congressional Budget Office) estimated (05 February 2013) a deficit of $845 billion.  For FY 2014 the estimate was $616 billion and for 2015 $430 billion.

Sources:









Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.













 navigate econintersect.com

Blogs

Analysis Blog
Econintersect Features
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Live Market Commentary
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
Live Market Conditions
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2015 Econintersect LLC - all rights reserved