U.S. issued $7 trillion in debt for 2009 fiscal year

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U.S. issued $7 trillion in debt for 2009 fiscal year

Wednesday, September 30th, 2009 | Economics |

The federal fiscal year ends September 30. It’s now estimated the U.S. issued $7 trillion in debt in 2009.

The U.S. finances its debt by selling U.S. Treasuries, which are interest-bearing securities similar to bonds. U.S. Treasuries are available in 1 year notes, 2 year notes, and other terms, all the way up to 30 year bonds.

About $5.3 trillion was revolving debt. Each year the government has to pay off the 1 year notes they sold 1 year ago, the 2 year notes they sold 2 years ago, and so on. That’s the revolving debt.

When the government goes deeper into debt they sell more Treasuries. This year’s new issuance included around $1.7 trillion in new debt to finance this year’s deficit spending.

Tags: deficits

2 Comments to U.S. issued $7 trillion in debt for 2009 fiscal year

Inflation or deflation? The man with the dollar printing press says “inflation” | Les Jones
October 20, 2009

[...] purchases the U.S. would be at the mercy of domestic purchasers and foreign governments to buy the $7 trillion in debt we sold in fiscal 2009, which included $1.4 trillion in new debt. All is going according to [...]

How will you know gold is peaking? | Les Jones
November 24, 2009

[...] gold will keep going up is that the U.S. government and other major governments continue to print, borrow, and spend money they don’t have. The debasement of currency now and the further debasement [...]