Wednesday, May 02, 2007

US Treasury to cease sale of 3 year notes

According to the US Treasury, the last auction of three-year notes will occur next week. The reason? The federal budget deficit is shrinking! According to Yahoo's story on the subject, "the deficit has declined for three straight years and is projected to drop further this year." The Dallas Fed confirms this with numbers: "The federal deficit has fallen for three straight years—from a record $412 billion in 2004 to $248 billion in 2006."

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