2011-04-05cnsnews.com

``During the month [of March], according to the Treasury, the federal government netted $128.179 billion in tax revenue... At the same time, the Treasury paid out a total of $1.1187 trillion. When the $65.898 billion in tax refunds is deducted from that, the Treasury paid a net of $1.0528 trillion in federal expenses for March... The lion’s share of this federal spending went to redeem Treasury securities that had matured during the month—most of which were short-term Treasury bills that have terms of one year or less.'' -- This is incredibly dangerous; the government is having to handle a growing rollover of short-term debt, which threatens to explode into default at some point (unless interest rates are allowed to rise sufficient to sell more long-term debt).


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