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      <title>Treasury Is Meeting Its Bills — For Now</title>
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      <pubDate>Fri, 03 Apr 2026 00:00:00 +0000</pubDate>
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      <description>&lt;p&gt;The U.S. Government Accountability Office released its March 2026 assessment of federal debt management — GAO-26-107529 — and the headline is technically reassuring: Treasury is meeting borrowing needs. The subtext is not.&lt;/p&gt;&#xA;&lt;p&gt;Public debt exceeded $31 trillion as of February 2026. In fiscal year 2025 alone, Treasury held 444 auctions to borrow $1.9 trillion for government operations and refinance $9.1 trillion of maturing securities. The Congressional Budget Office projects deficits averaging over $2 trillion annually through 2036. Treasury&amp;rsquo;s borrowing needs as a share of GDP were 21 percent in 2014. By 2025 they had reached 36 percent.&lt;/p&gt;</description>
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