Latest / The Fiscal Policy Podcast with Fexingo: Government Budgets, Stimulus, and Public Spending
How the US Treasury Borrows Trillions Like Clockwork
The US Treasury issues roughly $1.5 trillion in new debt every year. Most people never think about how that actually works. In this episode, Lucas and Luna walk through the Treasury's regular auction cycle — the schedule, the primary dealers, the bidding process, and the surprising role of the 'when-issued' market. They explain why the government can borrow $100 billion in a single day without breaking a sweat, and what happens when demand suddenly dries up. No jargon, just the mechanics of the world's most liquid financial market. If you've ever wondered where…
The skinny
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