US bond investors, together with US banks, are awaiting this week with some type of excitement (or nerves). There is about to be an estimated $75 billion sale of US bonds, which even in bond terms is a sizeable chunk of market activity.
The continued increase in debt for the US government, although planned, still makes one take a deep breath when one studies the numbers involved. It is all too easy to feel like these numbers do not mean much to you and I, yet I assure you that when I stood underneath the famous US debt digital display in our beloved New York City the numbers astound you.
Think how many school meals $75 billion would buy.
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