Is the US Treasury racking up debt this year to cover a profligate president’s mad spending spree?!?Not really, though you might think so after reading this Wonkblog post over at the Washington Post.Right after an obligatory picture of the National Debt Clock, the problems start with its claim that the Treasury expects to borrow 5bn this year.It was another crazy news week, so it’s understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly trillion this fiscal year — Trump’s first full year in charge of the budget.That figure isn’t a forecast from the Treasury at all, but from Wall Street. It comes from a survey of 23 banks known as primary dealers, who predicted 9bn of net marketable borrowing
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Is the US Treasury racking up debt this year to cover a profligate president’s mad...