Monday, April 29, 2013

The Sequester Worked

The treasury reportedly will pay down some of the public debt for the first time in six-years.

The Treasury Department on Monday said it expects to cut its "marketable" debt load by $35 billion in the current quarter, the first such reduction since the second quarter of 2007, when it shed $139 billion in debt. What did the trick? Higher tax receipts and lower government spending -- an austerity cocktail.

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