Borrowing Through the U.S. Treasury's "Fast Money Tree": The Need to Balance Austerity and Growth in the 21st Century

The continuing U.S. Government’s debt ceiling crisis is an anomaly characterized by a dysfunctional Congress that previously approved the budgetary expenditures for a multitude of government programs that now requires that same body to approve raising the ceiling to pay for those same program expenditures. The U.S. Treasury then dutifully raises the necessary cash to pay these bills and maturing debt through selling (auctioning) an ample supply of various marketable debt securities (bills, ...