Gov borrow bus $ auction of debt next week

WASHINGTON (AP) - the Government borrow 72 billion dollars in sales of debt auction next week now that the Congress raised the limit of borrowing of the nation.The Department of the Treasury , said that he sell notes of 3 years, 10-year notes and bonds to 30 years to raise the money. About one-third will go to pay off debts that are due on August 15. President Barack Obama opened the way for the sale at auction Tuesday when he signed in a law, a bill that raises the debt ceiling and promises of more than 2 billion in cuts for the next decade of the Government.Currently, the Government of the United States borrowed 40 cents of every dollar it spends.An initial $ 400 billion debt limit increase takes effect immediately on Tuesday. That will allow the nation to borrow it in September, estimates of the Department of the Treasury .the next coup de pouce $ 500 billion occurs after legislators vote on the resolutions declaring that they approve the increase. The votes are mainly ceremonial, because the President can veto resolutions.The final $ 1.5 trillion increase occurs after a bipartisan Committee of lawmakers of both Chambers identifies how the Government can reduce the Federal deficit of 1.5 trillion dollars over the next ten years. If the Committee fails to agree on the cuts, the borrowing limit will increase by between 1.2 billion and $ 1.5 trillion.Advisory Group of the Department of the Treasury of private bond vendors have agreed that rating agencies are probably retire soon Sterling rating credit of the nation. However, they said that the Treasury should continue to focus on the sale of long-term bonds to minimize the threat of a decommissioning based on high future deficits.