The Treasury Secretary on How Unstable U.S. Government Finances Are

The Treasury Secretary on How Unstable U.S. Government Finances Are
September 17, 2013
Print Version

Source: EPJ


Treasury Secretary Jack Lew made the following statement during remarks today before the Economic Club of Washington D.C.:

Quote :

[W]e are relying on investors from all over the world to continue to hold U.S. bonds.  Every Thursday, we roll-over approximately $100 billion in U.S. bills.  If U.S. bond holders decided that they wanted to be repaid rather than continuing to roll-over their investments, we could unexpectedly dissipate our entire cash balance.