Wednesday, May 5, 2010

Superior Gold Group - Treasury outlines upcoming borrowing needs

People who are concerned about the size of the U.S. federal deficit got little reassurance this week when the Treasury Department reported that it would issue $340 billion in net marketable debt during the second quarter of 2010.

The Treasury also reported that it plans borrow $376 billion in the third quarter of 2010, assuming an end-of-September cash balance of $270 billion.

In the first quarter, the Treasury issued $483 billion in debt. With a national debt rapidly approaching $14 trillion, the issue of government spending has been gaining more attention from policymakers, media outlets and taxpayers.

According to an Associated Press report, the federal government's projected borrowing needs for the current budget year will be $1.46 trillion - and yet will still mark an 18.3 percent decline from the record level established last year.

Much of the current attention to budget deficit problems has focused on European nations like Greece and Portugal. However, as the U.S. deficit continues to grow, investors may want to consider options like dealer gold as a way to ride out any potential economic uncertainties.