The Government Accountability Office publishes a financial audit every November. The 2018 audit just came out and it’s titled: “Bureau of the Fiscal Service’s Fiscal Years 2018 and 2017 Schedules of Federal Debt.” One can find the audits at Treasury Direct on its Schedules of Federal Debt webpage. I’ve been reporting on these annual audits for a while now, and everything is much the same from year to year -- except for the numbers. The section we should pay special attention to is “Debt Held by the Public.” In the 2018 audit, that section begins on page 21 where we read: “Of the marketable securities currently held by the public as of September 30, 2018, $9,230 billion, or 61 percent, will mature within the next four years.” For a little perspective, on page 13 of the audit for 2008 we read: “Of the marketable securities currently held by the public as of September 30, 2008, $3,429 billion, or 66 percent, will mature...(Read Full Article)