Treasury Dept. to sell $22 million in debt

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The Associated Press

The Treasury Department said Wednesday it will sell $22 billion in debt at its quarterly auction next week as officials study ways to finance the economic stimulus package, which is expected to boost this year’s deficit by more than $100 billion.

The department said it will auction $13 billion in 10-year notes on Feb. 6 and $9 billion in 30-year bonds on Feb. 7. The $22 billion being raised is slightly higher than the $18 billion raised three months ago.

That had been the smallest amount raised during a quarterly refunding operation in more than 20 years. However, the government’s borrowing requirements are expected to rise significantly this year, reflecting a higher federal deficit.

The federal deficit for the budget year that ended last September totaled $162.8 billion, a five-year low.