PolifrogBlog

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Friday, March 11, 2011

Moore Debt...

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To some theft is a solution.

The current estimate for this years deficit is 1.7 trillion. That is 142 billion/month. (I realize this is only a proxy for Treasury issuance.)

This month the Fed reported holding 1.236 trillion in gov. securities while last month they reported holding 1.138 trillion. The Fed therefore bought 98 billion in Treasuries last month.

That comes out to the Fed buying nearly 70% of our government's debt last month. The argument could be made that the Fed was 7 of 10 buyers.




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