Wake up and smell that coffee America!
Treasury brings back the 30-year-bills:
30-Year Treasury Bond Revived After 4-Year HiatusBy Jonathan Weisman
Washington Post Staff Writer
Thursday, August 4, 2005; Page D01The Bush administration resurrected the 30-year Treasury bond yesterday after a four-year absence, giving the government a new tool to finance the expanding federal debt.
Treasury officials said the decision to revive the so-called long bond was driven by technical issues of debt management, not the federal deficit. The short-term deficit picture has brightened in recent months due to an unexpected surge in tax revenue.
But most bond-market analysts said the Treasury Department's move acknowledged the obvious: With the baby-boom generation nearing retirement, the long-term deficit picture remains bleak, and the government needs new ways to borrow.
"It's unfortunate that we're living in a time of significant, multi-hundred-billion-dollar deficits, but I do think Treasury is making the appropriate decision," said Gary Gensler, an undersecretary of the Treasury during the Clinton administration . . .
Full text at: http://www.washingtonpost.com/wp-dyn/content/article/2005/08/03/AR2005080300492.html
You want to sell 30-year T-bills, you better be describing a future worth creating. Otherwise, no buyers.
Vision matters.