Treasury Financing Requirements 

 July - S

(Projected) (Actuals) (P

Deficit Funding (Def + / Surplus -) -47 -97 

Means of Financing

Change in Cash Balance -17 -38 Net Non-Marketable Financing 7 4 Other* 15 29 Net Marketable Financing -51 -92 

Net Marketable Financing -51 -92 

Bills -125Nominal Notes 18TIPS 19Bonds -4

Notes:

Starting Cash Balance 8 8 Ending Cash Balance 25 46 

* Includes direct loan activity, changes in accrued interest, checks outstanding, minor miscellaneous transactions, discount and inflation accretion on TreasNote: Totals may not add due to rounding.

 April - June 2006
Marketable Treasury Coupon Flows 

Date

Maturing Coupon 

Securities 

(Excluding SOMA 

holdings)

Coupon 

Payments

August 15, 2006 22 26 August 31, 2006 24 2 September 15, 2006 0 1 September 30, 2006 24 3 October 15, 2006 17 3 October 31, 2006 22 3 November 15, 2006 54 22 November 30, 2006 23 3 
TREASURY DAILY OPERATING CASH BALANCE

FY 2004 FY 2005 FY 2006

Date Total Date Total Date Total

10/1/2003 21.2 10/1/2004 18.3 10/3/2005 14.7

10/2/2003 14.0 10/4/2004 21.5 10/4/2005 9.5

10/3/2003 13.3 10/5/2004 17.4 10/5/2005 11.6

10/6/2003 13.5 10/6/2004 20.5 10/6/2005 19.1

10/7/2003 8.8 10/7/2004 14.2 10/7/2005 15.2

10/8/2003 5.8 10/8/2004 10.9 10/11/2005 15.4

10/9/2003 6.1 10/11/2004 10.9 10/12/2005 7.8

10/10/2003 3.2 10/12/2004 10.9 10/13/2005 10.0

10/13/2003 3.2 10/13/2004 12.9 10/14/2005 9.2

10/14/2003 4.2 10/14/2004 20.4 10/17/2005 29.3

10/15/2003 5.7 10/15/2004 25.9 10/18/2005 27.1

10/16/2003 19.6 10/18/2004 34.5 10/19/2005 26.9

10/17/2003 19.5 10/19/2004 32.4 10/20/2005 30.9

10/20/2003 21.7 10/20/2004 30.9 10/21/2005 29.4

10/21/2003 20.1 10/21/2004 35.4 10/24/2005 30.6

10/22/2003 20.3 10/22/2004 32.0 10/25/2005 27.3

10/23/2003 28.0 10/25/2004 33.7 10/26/2005 24.6

10/24/2003 25.9 10/26/2004 27.8 10/27/2005 34.1

10/27/2003 27.6 10/27/2004 25.7 10/28/2005 41.4

10/28/2003 23.4 10/28/2004 31.4 10/31/2005 40.7

10/29/2003 26.9 10/29/2004 48.1 11/1/2005 24.1

10/30/2003 36.0 11/1/2004 35.1 11/2/2005 27.5

10/31/2003 35.0 11/2/2004 34.1 11/3/2005 14.7

11/3/2003 14.0 11/3/2004 14.9 11/4/2005 12.4

11/4/2003 10.5 11/4/2004 23.3 11/7/2005 12.4

11/5/2003 11.5 11/5/2004 19.9 11/8/2005 8.3

11/6/2003 14.3 11/8/2004 21.1 11/9/2005 9.3

11/7/2003 11.6 11/9/2004 16.4 11/10/2005 18.0

11/10/2003 11.6 11/10/2004 12.9 11/11/2005 18.0

11/11/2003 11.6 11/11/2004 12.9 11/14/2005 24.1

11/12/2003 6.0 11/12/2004 28.9 11/15/2005 4.5

11/13/2003 5.9 11/15/2004 10.5 11/16/2005 7.2

11/14/2003 5.5 11/16/2004 13.4 11/17/2005 18.0

11/17/2003 22.7 11/17/2004 10.5 11/18/2005 16.5

11/18/2003 20.2 11/18/2004 6.3 11/21/2005 17.9

11/19/2003 19.6 11/19/2004 5.1 11/22/2005 12.6

11/20/2003 18.7 11/22/2004 6.0 11/23/2005 4.7

11/21/2003 16.9 11/23/2004 18.1 11/24/2005 4.7

11/24/2003 17.2 11/24/2004 14.1 11/25/2005 12.1

11/25/2003 12.4 11/25/2004 14.1 11/28/2005 14.2

11/26/2003 12.2 11/26/2004 20.6 11/29/2005 10.5

11/27/2003 12.2 11/29/2004 24.3 11/30/2005 6.0

11/28/2003 21.4 11/30/2004 18.0 12/1/2005 16.1

12/1/2003 9.1 12/1/2004 7.6 12/2/2005 11.8

12/2/2003 6.6 12/2/2004 8.5 12/5/2005 10.4

12/3/2003 17.7 12/3/2004 7.4 12/6/2005 5.3

12/4/2003 14.9 12/6/2004 7.0 12/7/2005 7.8

12/5/2003 10.8 12/7/2004 15.5 12/8/2005 10.4

12/8/2003 12.3 12/8/2004 12.3 12/9/2005 10.1

12/9/2003 7.6 12/9/2004 5.4 12/12/2005 15.3

12/10/2003 6.2 12/10/2004 6.4 12/13/2005 8.5

12/11/2003 3.6 12/13/2004 11.4 12/14/2005 12.5

12/12/2003 5.5 12/14/2004 13.7 12/15/2005 35.7

12/15/2003 41.6 12/15/2004 39.8 12/16/2005 43.8

12/16/2003 46.4 12/16/2004 33.6 12/19/2005 48.1

12/17/2003 45.3 12/17/2004 32.8 12/20/2005 46.3

12/18/2003 30.4 12/20/2004 36.2 12/21/2005 46.9

12/19/2003 32.5 12/21/2004 35.1 12/22/2005 35.4

12/22/2003 37.5 12/22/2004 34.6 12/23/2005 43.4

12/23/2003 34.5 12/23/2004 24.5 12/26/2005 43.4

12/24/2003 32.8 12/24/2004 26.9 12/27/2005 49.0

12/25/2003 32.8 12/27/2004 31.9 12/28/2005 42.7

12/26/2003 22.1 12/28/2004 30.5 12/29/2005 38.5

12/29/2003 29.8 12/29/2004 34.8 12/30/2005 36.6

12/30/2003 32.8 12/30/2004 20.0 1/2/2006 36.6

12/31/2003 33.2 12/31/2004 24.7 1/3/2006 18.3

1/1/2004 33.2 1/3/2005 20.5 1/4/2006 18.4

1/2/2004 13.9 1/4/2005 16.8 1/5/2006 13.0

1/5/2004 15.9 1/5/2005 21.0 1/6/2006 14.2

1/6/2004 11.9 1/6/2005 10.2 1/9/2006 18.3

1/7/2004 15.8 1/7/2005 8.4 1/10/2006 16.9

1/8/2004 6.5 1/10/2005 13.7 1/11/2006 14.6

1/9/2004 7.5 1/11/2005 12.4 1/12/2006 6.3

1/12/2004 11.6 1/12/2005 10.6 1/13/2006 7.0

1/13/2004 11.3 1/13/2005 10.8 1/17/2006 32.2
1/14/2004 12.8 1/14/2005 10.9 1/18/2006 38.1

1/15/2004 21.7 1/17/2005 10.9 1/19/2006 41.2

1/16/2004 30.0 1/18/2005 28.1 1/20/2006 44.1

1/19/2004 30.0 1/19/2005 38.3 1/23/2006 53.6

1/20/2004 35.9 1/20/2005 36.3 1/24/2006 60.1

1/21/2004 51.0 1/21/2005 42.8 1/25/2006 60.3

1/22/2004 51.0 1/24/2005 52.2 1/26/2006 62.3

1/23/2004 52.0 1/25/2005 52.8 1/27/2006 57.3

1/26/2004 57.0 1/26/2005 54.8 1/30/2006 62.6

1/27/2004 55.3 1/27/2005 50.0 1/31/2006 68.9

1/28/2004 54.7 1/28/2005 44.8 2/1/2006 55.3

1/29/2004 56.1 1/31/2005 61.3 2/2/2006 65.7

1/30/2004 42.5 2/1/2005 49.3 2/3/2006 36.7

2/2/2004 45.4 2/2/2005 53.0 2/6/2006 38.6

2/3/2004 21.0 2/3/2005 29.7 2/7/2006 33.3

2/4/2004 22.7 2/4/2005 20.5 2/8/2006 30.1

2/5/2004 30.5 2/7/2005 23.0 2/9/2006 35.0

2/6/2004 18.6 2/8/2005 19.2 2/10/2006 12.0

2/9/2004 22.3 2/9/2005 15.8 2/13/2006 15.6

2/10/2004 19.1 2/10/2005 24.6 2/14/2006 13.7

2/11/2004 17.8 2/11/2005 5.0 2/15/2006 17.6

2/12/2004 29.9 2/14/2005 4.5 2/16/2006 32.9

2/13/2004 9.9 2/15/2005 14.7 2/17/2006 11.7

2/16/2004 9.9 2/16/2005 20.6 2/20/2006 11.7

2/17/2004 25.1 2/17/2005 29.0 2/21/2006 17.3

2/18/2004 20.5 2/18/2005 12.7 2/22/2006 9.2

2/19/2004 34.3 2/21/2005 12.7 2/23/2006 21.0

2/20/2004 16.9 2/22/2005 18.5 2/24/2006 5.4

2/23/2004 22.1 2/23/2005 13.5 2/27/2006 10.4

2/24/2004 18.7 2/24/2005 30.7 2/28/2006 18.1

2/25/2004 16.9 2/25/2005 17.2 3/1/2006 5.5

2/26/2004 25.1 2/28/2005 19.6 3/2/2006 12.0

2/27/2004 16.7 3/1/2005 7.0 3/3/2006 7.7

3/1/2004 9.9 3/2/2005 10.1 3/6/2006 11.1

3/2/2004 8.8 3/3/2005 11.8 3/7/2006 6.7

3/3/2004 14.9 3/4/2005 3.4 3/8/2006 10.7

3/4/2004 18.2 3/7/2005 6.6 3/9/2006 17.1

3/5/2004 9.2 3/8/2005 15.4 3/10/2006 7.0

3/8/2004 12.8 3/9/2005 10.8 3/13/2006 13.5

3/9/2004 9.6 3/10/2005 15.4 3/14/2006 10.5

3/10/2004 7.0 3/11/2005 6.2 3/15/2006 15.4

3/11/2004 13.0 3/14/2005 14.8 3/16/2006 31.8

3/12/2004 8.1 3/15/2005 35.2 3/17/2006 24.0

3/15/2004 30.1 3/16/2005 43.6 3/20/2006 28.2

3/16/2004 35.4 3/17/2005 48.9 3/21/2006 25.1

3/17/2004 32.9 3/18/2005 43.0 3/22/2006 22.2

3/18/2004 37.3 3/21/2005 47.5 3/23/2006 29.0

3/19/2004 32.4 3/22/2005 44.8 3/24/2006 20.7

3/22/2004 34.0 3/23/2005 42.0 3/27/2006 25.3

3/23/2004 30.1 3/24/2005 41.2 3/28/2006 20.4

3/24/2004 26.4 3/25/2005 34.2 3/29/2006 21.9

3/25/2004 25.7 3/28/2005 36.1 3/30/2006 17.6

3/26/2004 18.3 3/29/2005 34.4 3/31/2006 8.2

3/29/2004 21.5 3/30/2005 34.2 4/3/2006 9.5

3/30/2004 17.8 3/31/2005 22.4 4/4/2006 7.1

3/31/2004 21.3 4/1/2005 10.2 4/5/2006 8.8

4/1/2004 4.9 4/4/2005 14.6 4/6/2006 7.5

4/2/2004 5.6 4/5/2005 9.7 4/7/2006 9.0

4/5/2004 4.6 4/6/2005 12.4 4/10/2006 11.9

4/6/2004 6.8 4/7/2005 12.8 4/11/2006 11.5

4/7/2004 9.5 4/8/2005 6.3 4/12/2006 10.5

4/8/2004 14.4 4/11/2005 10.1 4/13/2006 9.5

4/9/2004 9.8 4/12/2005 13.0 4/14/2006 13.7

4/12/2004 10.7 4/13/2005 12.5 4/17/2006 13.2

4/13/2004 11.5 4/14/2005 5.4 4/18/2006 30.2

4/14/2004 15.9 4/15/2005 18.4 4/19/2006 38.6

4/15/2004 20.7 4/18/2005 27.7 4/20/2006 18.3

4/16/2004 27.3 4/19/2005 46.9 4/21/2006 21.2

4/19/2004 19.8 4/20/2005 55.6 4/24/2006 36.9

4/20/2004 30.3 4/21/2005 41.9 4/25/2006 69.3

4/21/2004 38.1 4/22/2005 45.0 4/26/2006 77.7

4/22/2004 30.5 4/25/2005 59.5

4/23/2004 30.7 4/26/2005 80.3

4/26/2004 42.8 4/27/2005 84.6

4/27/2004 52.2 4/28/2005 72.8

4/28/2004 53.8 4/29/2005 76.4

4/29/2004 44.9 5/2/2005 83.2
4/30/2004 40.4 5/3/2005 67.3

5/3/2004 20.3 5/4/2005 71.2

5/4/2004 17.2 5/5/2005 51.4

5/5/2004 19.5 5/6/2005 49.7

5/6/2004 19.6 5/9/2005 53.2

5/7/2004 16.2 5/10/2005 49.5

5/10/2004 17.1 5/11/2005 46.5

5/11/2004 13.2 5/12/2005 31.1

5/12/2004 11.3 5/13/2005 28.2

5/13/2004 15.0 5/16/2005 30.8

5/14/2004 13.7 5/17/2005 30.5

5/17/2004 23.3 5/18/2005 27.8

5/18/2004 20.7 5/19/2005 21.2

5/19/2004 18.2 5/20/2005 18.4

5/20/2004 22.8 5/23/2005 20.7

5/21/2004 20.5 5/24/2005 15.6

5/24/2004 21.7 5/25/2005 12.7

5/25/2004 16.6 5/26/2005 13.6

5/26/2004 13.4 5/27/2005 14.6

5/27/2004 15.2 5/30/2005 14.6

5/28/2004 15.9 5/31/2005 16.6

5/31/2004 15.9 6/1/2005 9.5

6/1/2004 3.5 6/2/2005 12.6

6/2/2004 1.6 6/3/2005 5.6

6/3/2004 12.1 6/6/2005 4.9

6/4/2004 8.2 6/7/2005 11.2

6/7/2004 8.1 6/8/2005 8.0

6/8/2004 3.7 6/9/2005 5.0

6/9/2004 5.9 6/10/2005 5.7

6/10/2004 8.8 6/13/2005 11.3

6/11/2004 7.2 6/14/2005 17.9

6/14/2004 10.9 6/15/2005 49.3

6/15/2004 41.6 6/16/2005 45.5

6/16/2004 47.1 6/17/2005 46.7

6/17/2004 39.6 6/20/2005 52.5

6/18/2004 42.8 6/21/2005 63.0

6/21/2004 49.8 6/22/2005 64.2

6/22/2004 53.4 6/23/2005 44.1

6/23/2004 53.1 6/24/2005 44.0

6/24/2004 37.9 6/27/2005 49.7

6/25/2004 38.6 6/28/2005 46.9

6/28/2004 43.8 6/29/2005 51.8

6/29/2004 43.3 6/30/2005 33.2

6/30/2004 44.6 7/1/2005 10.1

7/1/2004 9.5 7/4/2005 10.1

7/2/2004 8.4 7/5/2005 11.9

7/5/2004 8.4 7/6/2005 9.1

7/6/2004 7.3 7/7/2005 6.8

7/7/2004 3.5 7/8/2005 6.1

7/8/2004 5.8 7/11/2005 7.9

7/9/2004 5.0 7/12/2005 7.7

7/12/2004 8.1 7/13/2005 5.3

7/13/2004 4.7 7/14/2005 11.4

7/14/2004 5.6 7/15/2005 14.4

7/15/2004 10.2 7/18/2005 23.1

7/16/2004 14.4 7/19/2005 19.7

7/19/2004 16.6 7/20/2005 19.9

7/20/2004 13.2 7/21/2005 25.4

7/21/2004 12.6 7/22/2005 27.3

7/22/2004 24.4 7/25/2005 31.4

7/23/2004 24.7 7/26/2005 29.3

7/26/2004 27.9 7/27/2005 26.7

7/27/2004 25.2 7/28/2005 32.0

7/28/2004 22.3 7/29/2005 41.0

7/29/2004 33.4 8/1/2005 27.0

7/30/2004 34.6 8/2/2005 26.6

8/2/2004 30.4 8/3/2005 8.8

8/3/2004 6.2 8/4/2005 11.2

8/4/2004 8.1 8/5/2005 9.6

8/5/2004 6.3 8/8/2005 12.9

8/6/2004 5.5 8/9/2005 9.9

8/9/2004 8.7 8/10/2005 8.2

8/10/2004 6.2 8/11/2005 6.6

8/11/2004 4.7 8/12/2005 5.7

8/12/2004 6.6 8/15/2005 8.6

8/13/2004 4.1 8/16/2005 12.9

8/16/2004 9.1 8/17/2005 12.3

8/17/2004 6.7 8/18/2005 14.4

8/18/2004 5.8 8/19/2005 16.3

8/19/2004 5.8 8/22/2005 20.5

8/20/2004 5.9 8/23/2005 17.8

8/23/2004 9.2 8/24/2005 14.4
8/24/2004 5.4 8/25/2005 13.8

8/25/2004 3.7 8/26/2005 11.1

8/26/2004 7.4 8/29/2005 14.7

8/27/2004 7.1 8/30/2005 10.4

8/30/2004 8.6 8/31/2005 8.6

8/31/2004 2.5 9/1/2005 6.3

9/1/2004 6.7 9/2/2005 7.2

9/2/2004 11.0 9/5/2005 7.2

9/3/2004 5.9 9/6/2005 8.1

9/6/2004 5.9 9/7/2005 5.9

9/7/2004 6.6 9/8/2005 10.1

9/8/2004 8.7 9/9/2005 7.1

9/9/2004 7.1 9/12/2005 10.7

9/10/2004 4.8 9/13/2005 11.2

9/13/2004 8.2 9/14/2005 7.8

9/14/2004 12.5 9/15/2005 40.6

9/15/2004 33.3 9/16/2005 49.2

9/16/2004 28.1 9/19/2005 55.9

9/17/2004 30.9 9/20/2005 70.6

9/20/2004 38.0 9/21/2005 72.9

9/21/2004 49.7 9/22/2005 60.1

9/22/2004 49.3 9/23/2005 60.9

9/23/2004 35.5 9/26/2005 63.6

9/24/2004 33.5 9/27/2005 60.5

9/27/2004 35.4 9/28/2005 57.5

9/28/2004 32.2 9/29/2005 50.3

9/29/2004 38.5 9/30/2005 35.7

9/30/2004 36.3
$ billions

Bills 2-under 5 years 5-10 years over 10 years Buybacks 5-10 years 20-30 years Totals

Calendar Year Quarters

2001 1Q 65.2 -29.2 -25.5 9.4 -8.0 6.0 0.0 17.8

2Q -92.0 -34.1 -26.4 -1.8 -9.3 0.0 0.0 -163.5

3Q 114.8 -10.3 -31.1 3.8 -7.8 5.0 0.0 74.5

4Q 76.4 65.7 -84.7 -1.8 -8.5 0.0 5.0 52.1

2002 1Q 23.2 26.6 2.7 -6.0 0.0 6.0 0.0 52.5

2Q -11.9 49.3 -18.3 0.0 -4.0 0.0 0.0 15.1

3Q 45.8 76.9 -29.6 0.0 0.0 -8.9 0.0 84.2

4Q 20.5 68.6 -9.3 -4.2 0.0 7.0 0.0 82.6

2003 1Q 66.3 59.6 -17.5 -3.0 0.0 6.0 0.0 111.3

2Q -27.3 78.1 12.8 -3.2 0.0 0.0 0.0 60.3

3Q -9.6 62.7 23.0 -5.6 0.0 11.0 0.0 81.5

4Q 10.6 44.1 62.2 -12.5 0.0 9.0 0.0 113.4

2004 1Q 56.2 30.9 46.7 0.0 0.0 12.0 0.0 145.9

2Q -38.2 25.8 43.0 -8.4 0.0 9.0 0.0 31.3

3Q 14.7 16.7 40.6 -4.0 0.0 10.0 11.0 89.0

4Q 41.7 20.4 27.2 -12.5 0.0 21.0 0.0 97.8

2005 1Q 55.9 12.5 57.0 -2.3 0.0 10.0 11.0 144.2

2Q -135.7 17.5 28.9 -7.2 0.0 18.0 0.0 -78.5

3Q -9.2 7.3 48.4 -9.3 0.0 9.0 6.0 52.3

4Q 49.6 10.1 21.9 -4.1 0.0 15.0 0.0 92.5

2006 1Q 78.2 -5.4 54.3 10.1 0.0 9.0 11.8 158.0

2Q -125.3 -14.0 31.6 -3.5 0.0 19.0 0.0 -92.1

Totals may not add due to rounding.

Nominals TIPS

Treasury Quarterly Net Marketable Borrowing 
Treasury Quarterly Net Borrowing From NonMarketable Issues 

Calendar Year $ billions

Quarter Savings Bonds Foreign Series State and Local Govt. Series Total Calendar Year

I 00 -3.3 -0.9 -3.8 -8.0 2000

II -2.7 -0.6 -1.7 -5.0

III -2.4 -0.4 -7.3 -10.1

IV -1.7 1.7 -2.3 -2.2

I 01 -2.2 -1.1 1.9 -1.4 2001

II -1.4 -0.7 0.4 -1.7

III -1.4 -2.4 -6.8 -10.6

IV 1.9 -1.0 -0.1 0.8

I 02 -0.4 0.2 -5.2 -5.5 2002

II -1.1 -0.7 1.7 -0.1

III -1.4 -0.8 1.5 -0.7

IV -0.2 -1.3 9.1 7.6

I 03 0.1 -1.5 -1.0 -2.4 2003

II 0.5 -0.6 -8.3 -8.4

III 0.4 -0.7 7.9 7.6

IV 0.5 -0.5 0.8 0.8

I 04 -1.2 -0.8 6.5 4.5 2004

II -1.5 -0.3 5.8 3.9

III -2.1 -0.6 -3.3 -6.0

IV -1.4 0.0 2.5 1.1

I 05 -1.9 0.2 18.3 16.6 2005

II -1.7 -1.6 27.7 24.4

III -2.3 0.1 18.5 16.3

IV -0.2 0.7 10.3 10.7

I 06 -1.1 -0.4 -0.7 -2.2 2006

II -2.7 -0.4 7.2 4.1
Year Outlays Receipts GDP Growth Net Interest

1960 17.8 17.9 5.4 1.3

1961 18.4 17.8 2.5 1.3

1962 18.8 17.6 6.9 1.2

1963 18.6 17.8 5.5 1.3

1964 18.5 17.6 7.0 1.3

1965 17.2 17.0 7.3 1.3

1966 17.9 17.4 9.6 1.2

1967 19.4 18.3 7.8 1.3

1968 20.6 17.7 6.8 1.3

1969 19.4 19.7 9.5 1.3

1970 19.3 19.0 6.7 1.4

1971 19.5 17.3 6.7 1.4

1972 19.6 17.6 9.1 1.3

1973 18.8 17.7 11.0 1.3

1974 18.7 18.3 10.1 1.5

1975 21.3 17.9 8.4 1.5

1976 21.4 17.2 11.3 1.5

1976.5 21.0 17.8 13.7 1.5

1977 20.7 18.0 13.7 1.5

1978 20.7 18.0 12.3 1.6

1979 20.2 18.5 12.8 1.7

1980 21.7 19.0 9.0 1.9

1981 22.2 19.6 12.0 2.3

1982 23.1 19.1 5.7 2.6

1983 23.5 17.5 6.6 2.6

1984 22.2 17.4 11.6 2.9

1985 22.9 17.7 7.8 3.1

1986 22.4 17.4 6.5 3.1

1987 21.6 18.4 5.3 3.0

1988 21.3 18.2 7.8 3.0

1989 21.2 18.4 7.8 3.1

1990 21.8 18.0 6.2 3.2

1991 22.3 17.8 3.5 3.3

1992 22.1 17.5 5.1 3.2

1993 21.4 17.6 5.4 3.0

1994 21.0 18.1 5.9 2.9

1995 20.7 18.5 5.2 3.2

1996 20.3 18.9 5.0 3.1

1997 19.6 19.3 6.3 3.0

1998 19.2 20.0 5.4 2.8

1999 18.7 20.0 5.8 2.5

2000 18.4 20.9 6.4 2.3

2001 18.5 19.8 3.6 2.0

2002 19.4 17.9 3.2 1.6

2003 20.0 16.5 4.1 1.4

2004 19.9 16.3 6.9 1.4

2005 20.1 17.5 6.4 1.5

2006 20.8 17.5 6.0 1.7

2007 20.1 17.6 5.6 1.8

2008 19.4 17.8 5.5 1.9

2009 19.1 17.7 5.3 1.9

2010 19.0 17.9 5.3 1.9

2011 19.1 17.9 5.3 1.9

Estimate

Source: OMB Budget FY 2007

Drivers of Financing Needs

Percentage of GDP 
Net Marketable Borrowing and Hypothetical Auction Size % Change

Auction Size Net Borrowing

($ billion)

9/30/2005 216

9/30/2006 -0.03% 205

9/30/2007 3.7% 353

9/30/2008 -6.9% 202

9/30/2009 4.2% 177

9/30/2010 -1.0% 142

9/30/2011 -1.0% 149
THE AVERAGE MATURITY OF TOTAL OUTSTANDING MARKETABLE DEBT AND 

A 1-YEAR MOVING AVERAGE OF THE AVERAGE MATURITY OF ISSUANCE

CIM Average Maturity 

1-Yr Moving Average Total Outstanding

(months) (months)

12/31/80 73.92 48.39

3/31/81 73.21 48.10

6/30/81 73.59 49.97

9/30/81 76.38 50.54

12/31/81 77.34 50.18

3/31/82 77.28 50.09

6/30/82 63.57 49.69

9/30/82 56.92 48.80

12/31/82 54.85 47.06

3/31/83 55.57 47.48

6/30/83 69.27 48.45

9/30/83 77.91 49.70

12/31/83 82.90 50.98

3/31/84 84.39 51.91

6/30/84 85.78 53.34

9/30/84 85.93 53.90

12/31/84 85.62 55.33

3/31/85 87.02 55.77

6/30/85 87.55 57.00

9/30/85 88.83 58.19

12/31/85 89.54 58.71

3/31/86 89.30 60.10

6/30/86 89.51 61.13

9/30/86 88.80 61.74

12/31/86 88.55 62.15

3/31/87 87.85 63.85

6/30/87 87.60 65.14

9/30/87 88.28 66.17

12/31/87 82.59 65.63

3/31/88 82.48 66.01

6/30/88 82.30 67.15

9/30/88 66.77 65.97

12/31/88 73.57 66.51

3/31/89 73.17 66.78

6/30/89 73.64 68.19

9/30/89 89.63 69.07

12/31/89 89.12 68.95

3/31/90 89.85 68.89

6/30/90 89.27 69.44

9/30/90 87.40 69.07

12/31/90 85.68 67.91

3/31/91 85.05 68.46

6/30/91 84.66 69.40

9/30/91 84.21 68.31

12/31/91 84.66 67.94

3/31/92 82.20 67.27

6/30/92 79.70 67.50

9/30/92 77.38 67.22

12/31/92 75.29 66.78
3/31/93 74.43 66.77

6/30/93 72.52 66.58

9/30/93 73.37 66.80

12/31/93 60.98 64.68

3/31/94 62.11 64.55

6/30/94 51.37 64.18

9/30/94 51.43 64.27

12/31/94 51.28 62.81

3/31/95 51.26 62.05

6/30/95 51.18 61.27

9/30/95 51.76 61.72

12/31/95 51.87 60.36

3/31/96 52.37 60.09

6/30/96 52.44 60.36

9/30/96 50.34 60.58

12/31/96 62.21 60.93

3/31/97 60.32 60.93

6/30/97 61.29 61.96

9/30/97 62.09 62.39

12/31/97 63.28 62.52

3/31/98 64.64 63.11

6/30/98 74.90 65.14

9/30/98 83.89 66.84

12/31/98 85.12 65.11

3/31/99 87.44 65.28

6/30/99 87.65 67.39

9/30/99 80.96 68.19

12/31/99 78.40 66.88

3/31/00 78.73 67.43

6/30/00 67.32 69.39

9/30/00 63.90 70.06

12/31/00 61.73 69.42

3/31/01 62.06 68.81

6/30/01 62.07 70.90

9/30/01 60.14 68.33

12/31/01 57.78 66.01

3/31/02 41.76 64.94

6/30/02 40.66 63.82

9/30/02 32.27 62.09

12/31/02 25.48 60.47

3/31/03 25.89 58.59

6/30/03 26.62 57.63

9/30/03 27.49 57.21

12/31/03 28.42 56.30

3/31/04 29.38 54.94

6/30/04 30.93 55.13

9/30/04 33.83 55.08

12/31/04 33.41 54.31

3/31/05 36.81 53.34

6/30/05 36.77 54.73

9/30/05 35.63 54.25

12/31/05 35.83 53.36

3/31/06 44.31 52.99

6/30/06 44.25 54.27

9/30/06 55 55 Projected

9/30/07 54 55

9/30/08 54 55

9/30/09 54 56

9/30/10 55 56

9/30/11 54 56
Distribution of Marketable Debt Outstanding

Date Bills 2-3 yrs 4-7 yrs 10 yrs Bonds TIPS

9/30/1980 32.7% 20.3% 25.7% 7.6% 13.7% 0.0%

9/30/1981 32.4% 20.7% 26.3% 6.6% 14.0% 0.0%

9/30/1982 33.5% 21.3% 24.3% 8.4% 12.5% 0.0%

9/30/1983 33.1% 23.6% 22.2% 8.9% 12.2% 0.0%

9/30/1984 30.2% 25.5% 21.2% 9.8% 13.4% 0.0%

9/30/1985 28.1% 24.6% 22.1% 10.6% 14.6% 0.0%

9/30/1986 26.2% 23.4% 24.4% 10.6% 15.4% 0.0%

9/30/1987 22.6% 23.9% 25.1% 11.9% 16.6% 0.0%

9/30/1988 22.3% 22.2% 25.7% 13.0% 16.8% 0.0%

9/30/1989 21.6% 20.7% 25.6% 14.2% 18.0% 0.0%

9/30/1990 23.1% 20.1% 24.2% 14.4% 18.2% 0.0%

9/30/1991 23.8% 20.9% 23.3% 14.2% 17.8% 0.0%

9/30/1992 23.8% 21.2% 23.8% 13.8% 17.3% 0.0%

9/30/1993 22.8% 21.5% 24.8% 13.7% 17.2% 0.0%

9/30/1994 22.7% 21.7% 25.1% 13.9% 16.6% 0.0%

9/30/1995 22.7% 21.5% 25.9% 13.9% 16.0% 0.0%

9/30/1996 22.4% 21.5% 25.8% 14.4% 16.0% 0.0%

9/30/1997 20.5% 21.4% 25.7% 15.0% 16.8% 0.7%

9/30/1998 19.2% 19.7% 25.1% 15.9% 18.4% 1.8%

9/30/1999 20.3% 17.9% 22.2% 16.8% 20.0% 2.9%

9/30/2000 20.6% 16.2% 19.9% 18.2% 21.2% 3.8%

9/30/2001 25.2% 13.3% 16.8% 19.1% 21.0% 4.6%

9/30/2002 27.8% 18.2% 13.2% 17.4% 19.0% 4.4%

9/30/2003 26.5% 23.7% 11.5% 16.8% 16.7% 4.8%

9/30/2004 25.0% 24.4% 13.6% 16.9% 14.4% 5.8%

9/30/2005 22.6% 23.9% 15.9% 17.1% 12.8% 7.5%

9/30/2006 22.3% 22.8% 17.5% 16.3% 12.3% 8.9%

9/30/2007 21.7% 22.4% 18.6% 15.7% 11.9% 9.6%

9/30/2008 19.7% 22.7% 19.5% 16.2% 11.5% 10.6%

9/30/2009 19.8% 22.2% 18.9% 16.2% 11.4% 11.4%

9/30/2010 19.2% 22.0% 18.7% 16.8% 11.4% 11.9%

9/30/2011 18.7% 21.3% 18.6% 17.1% 11.6% 12.8%
Percentage of Debt Maturing in Next 12 to 36 Months

Date

maturing in 12 

months

maturing in 24 

months

maturing in 

36 months

12/31/80 47.7% 63.0% 70.3%

3/31/81 48.2% 63.5% 70.5%

6/30/81 47.1% 62.1% 69.7%

9/30/81 46.7% 62.0% 70.4%

12/31/81 47.2% 62.2% 70.8%

3/31/82 47.4% 62.1% 70.7%

6/30/82 46.5% 62.1% 70.8%

9/30/82 46.4% 61.5% 69.5%

12/31/82 47.6% 63.1% 70.4%

3/31/83 47.2% 62.8% 69.8%

6/30/83 46.3% 62.4% 69.4%

9/30/83 45.5% 61.9% 69.1%

12/31/83 45.7% 61.0% 68.8%

3/31/84 45.3% 60.2% 68.6%

6/30/84 44.4% 59.5% 67.6%

9/30/84 44.6% 59.7% 66.9%

12/31/84 43.6% 59.5% 66.4%

3/31/85 43.5% 59.2% 65.8%

6/30/85 42.8% 58.2% 65.4%

9/30/85 42.0% 57.3% 64.9%

12/31/85 42.0% 56.8% 64.5%

3/31/86 41.4% 55.7% 63.5%

6/30/86 40.7% 55.5% 63.1%

9/30/86 39.9% 55.1% 62.7%

12/31/86 39.7% 55.0% 62.7%

3/31/87 38.0% 53.5% 61.7%

6/30/87 37.3% 52.7% 60.9%

9/30/87 36.9% 52.3% 60.8%

12/31/87 37.1% 52.3% 60.8%

3/31/88 37.0% 52.2% 60.4%

6/30/88 36.2% 51.4% 59.7%

9/30/88 36.5% 51.7% 59.9%

12/31/88 37.3% 51.9% 59.9%

3/31/89 36.8% 51.5% 59.6%

6/30/89 35.6% 50.6% 59.1%

9/30/89 36.1% 50.4% 58.9%

12/31/89 36.6% 50.5% 59.0%

3/31/90 36.7% 50.6% 59.3%

6/30/90 36.4% 50.7% 59.1%

9/30/90 36.7% 51.1% 59.6%

12/31/90 37.1% 51.8% 60.5%

3/31/91 37.1% 51.6% 60.0%

6/30/91 36.5% 50.8% 59.5%

9/30/91 36.9% 51.5% 59.8%

12/31/91 37.1% 52.0% 59.9%

3/31/92 37.5% 52.1% 59.7%

6/30/92 36.9% 51.7% 59.0%

9/30/92 36.9% 51.7% 58.6%
12/31/92 37.4% 51.7% 58.2%

3/31/93 36.9% 51.0% 58.4%

6/30/93 36.7% 50.4% 58.8%

9/30/93 36.4% 49.9% 58.7%

12/31/93 37.2% 50.3% 60.6%

3/31/94 36.8% 50.9% 60.6%

6/30/94 35.9% 51.1% 60.6%

9/30/94 35.4% 51.0% 60.9%

12/31/94 36.2% 52.2% 61.2%

3/31/95 36.8% 52.5% 62.4%

6/30/95 37.4% 52.9% 62.7%

9/30/95 37.7% 53.5% 63.6%

12/31/95 38.8% 53.7% 63.7%

3/31/96 39.2% 54.2% 63.6%

6/30/96 38.2% 53.7% 63.4%

9/30/96 37.4% 53.7% 63.1%

12/31/96 37.3% 53.7% 63.0%

3/31/97 37.7% 53.9% 63.1%

6/30/97 36.4% 52.9% 62.3%

9/30/97 36.7% 52.7% 61.7%

12/31/97 37.2% 52.8% 61.4%

3/31/98 37.3% 52.7% 60.9%

6/30/98 35.9% 51.6% 59.5%

9/30/98 35.8% 51.4% 59.2%

12/31/98 36.8% 52.1% 61.1%

3/31/99 37.6% 52.8% 61.1%

6/30/99 36.3% 51.9% 60.1%

9/30/99 36.4% 51.9% 60.8%

12/31/99 38.2% 53.5% 60.7%

3/31/00 38.9% 53.3% 61.2%

6/30/00 37.2% 51.6% 59.6%

9/30/00 37.4% 52.6% 59.8%

12/31/00 38.8% 52.7% 59.0%

3/31/01 39.4% 53.4% 58.4%

6/30/01 37.3% 51.7% 56.8%

9/30/01 40.6% 54.0% 58.4%

12/31/01 41.2% 55.0% 60.4%

3/31/02 41.6% 55.7% 60.4%

6/30/02 40.5% 56.2% 61.2%

9/30/02 40.3% 56.6% 61.1%

12/31/02 40.9% 58.4% 62.7%

3/31/03 41.9% 58.7% 63.0%

6/30/03 42.0% 58.7% 63.4%

9/30/03 41.5% 57.2% 62.6%

12/31/03 41.8% 56.6% 63.0%

3/31/04 41.5% 55.7% 62.9%

6/30/04 40.2% 54.9% 61.9%

9/30/04 39.1% 54.2% 61.6%

12/31/04 38.9% 54.4% 61.0%

3/31/05 38.9% 54.6% 61.6%

6/30/05 36.7% 52.4% 60.1%

9/30/05 36.7% 52.4% 59.9%

12/31/05 38.2% 52.0% 60.2%

3/31/06 39.0% 52.6% 61.1%

6/30/06 36.5% 50.7% 59.6%

9/30/06 36.9% 50.8% 59.8%

9/30/07 35.4% 51.4% 59.9%

9/30/08 35.2% 50.9% 58.7%

9/30/09 34.2% 49.4% 57.7%

9/30/10 33.1% 48.5% 56.9%

9/30/11 32.7% 47.9% 57.3%
Percentage Breakdown of Quarterly Issuance

ISSUANCE

Date Bills 2-3 yrs 4-7 yrs 10 yrs Bonds TIPS

12/31/80 61.2% 20.5% 10.8% 2.9% 4.6% 0.0%

3/31/81 61.6% 20.0% 10.7% 3.5% 4.3% 0.0%

6/30/81 61.2% 19.6% 11.7% 3.2% 4.2% 0.0%

9/30/81 61.0% 19.2% 12.6% 2.9% 4.3% 0.0%

12/31/81 62.7% 19.3% 11.3% 2.7% 4.0% 0.0%

3/31/82 61.3% 21.4% 10.5% 2.6% 4.1% 0.0%

6/30/82 61.2% 22.8% 9.7% 3.3% 3.0% 0.0%

9/30/82 61.0% 21.6% 11.5% 3.5% 2.4% 0.0%

12/31/82 61.3% 22.1% 11.0% 3.6% 2.1% 0.0%

3/31/83 60.0% 22.4% 11.4% 3.8% 2.4% 0.0%

6/30/83 58.0% 22.5% 12.4% 3.6% 3.5% 0.0%

9/30/83 58.1% 23.0% 10.8% 3.6% 4.4% 0.0%

12/31/83 57.0% 23.3% 10.7% 3.8% 5.2% 0.0%

3/31/84 57.0% 23.1% 10.5% 4.0% 5.4% 0.0%

6/30/84 55.4% 23.9% 10.9% 4.1% 5.7% 0.0%

9/30/84 56.4% 23.3% 10.7% 3.9% 5.6% 0.0%

12/31/84 55.7% 22.4% 12.6% 3.8% 5.6% 0.0%

3/31/85 56.4% 22.4% 11.6% 3.8% 5.7% 0.0%

6/30/85 55.7% 22.7% 11.8% 3.9% 5.9% 0.0%

9/30/85 54.9% 22.9% 11.9% 4.1% 6.1% 0.0%

12/31/85 55.1% 22.8% 11.8% 4.1% 6.2% 0.0%

3/31/86 53.9% 22.7% 12.8% 4.2% 6.3% 0.0%

6/30/86 53.7% 22.9% 12.9% 4.5% 6.0% 0.0%

9/30/86 54.0% 23.0% 12.7% 4.7% 5.6% 0.0%

12/31/86 54.6% 23.3% 11.9% 5.0% 5.2% 0.0%

3/31/87 53.0% 24.5% 12.3% 5.3% 4.9% 0.0%

6/30/87 51.8% 25.2% 12.7% 5.4% 5.0% 0.0%

9/30/87 53.5% 24.7% 11.7% 5.2% 4.9% 0.0%

12/31/87 54.4% 24.0% 12.3% 5.1% 4.2% 0.0%

3/31/88 53.8% 24.2% 12.7% 5.1% 4.3% 0.0%

6/30/88 52.8% 24.8% 12.8% 5.2% 4.4% 0.0%

9/30/88 53.9% 24.3% 13.4% 5.3% 3.0% 0.0%

12/31/88 55.4% 24.3% 11.3% 5.4% 3.6% 0.0%

3/31/89 54.6% 24.0% 12.4% 5.3% 3.6% 0.0%

6/30/89 53.5% 24.4% 12.8% 5.5% 3.8% 0.0%

9/30/89 52.9% 24.6% 12.0% 5.4% 5.2% 0.0%

12/31/89 53.1% 24.1% 12.6% 5.2% 5.0% 0.0%

3/31/90 53.9% 24.4% 11.4% 5.3% 5.1% 0.0%

6/30/90 54.4% 24.3% 11.2% 5.1% 4.9% 0.0%

9/30/90 54.9% 23.8% 11.7% 4.9% 4.7% 0.0%

12/31/90 56.6% 22.6% 11.9% 4.6% 4.4% 0.0%

3/31/91 55.7% 23.2% 12.1% 4.6% 4.4% 0.0%

6/30/91 53.2% 24.1% 13.2% 4.8% 4.6% 0.0%

9/30/91 54.1% 23.1% 13.7% 4.6% 4.5% 0.0%

12/31/91 54.3% 23.1% 13.5% 4.6% 4.5% 0.0%

3/31/92 53.7% 23.2% 14.3% 4.5% 4.3% 0.0%

6/30/92 54.5% 22.9% 14.4% 4.3% 4.0% 0.0%

9/30/92 54.6% 23.1% 14.5% 4.1% 3.7% 0.0%
12/31/92 55.3% 22.7% 14.6% 3.9% 3.5% 0.0%

3/31/93 53.8% 23.3% 15.4% 4.0% 3.5% 0.0%

6/30/93 53.4% 23.6% 15.7% 4.0% 3.3% 0.0%

9/30/93 55.3% 23.0% 14.4% 3.9% 3.3% 0.0%

12/31/93 56.7% 23.3% 13.5% 4.1% 2.4% 0.0%

3/31/94 56.5% 24.0% 12.8% 4.2% 2.5% 0.0%

6/30/94 57.1% 24.6% 12.0% 4.4% 1.8% 0.0%

9/30/94 56.3% 25.2% 12.1% 4.5% 1.8% 0.0%

12/31/94 57.5% 24.6% 11.7% 4.3% 1.8% 0.0%

3/31/95 57.9% 24.4% 11.6% 4.3% 1.8% 0.0%

6/30/95 57.9% 24.3% 11.6% 4.4% 1.8% 0.0%

9/30/95 57.6% 24.5% 11.5% 4.5% 1.9% 0.0%

12/31/95 58.0% 24.1% 11.5% 4.5% 1.9% 0.0%

3/31/96 58.4% 23.7% 11.4% 4.6% 1.9% 0.0%

6/30/96 57.7% 24.2% 11.6% 4.6% 1.9% 0.0%

9/30/96 56.5% 24.6% 12.0% 5.2% 1.8% 0.0%

12/31/96 55.7% 24.4% 12.0% 5.5% 2.5% 0.0%

3/31/97 55.0% 24.6% 12.2% 5.4% 2.4% 0.5%

6/30/97 53.3% 24.9% 12.7% 5.5% 2.5% 1.2%

9/30/97 54.2% 24.0% 12.6% 4.8% 2.5% 1.9%

12/31/97 55.0% 23.3% 12.4% 4.2% 2.6% 2.6%

3/31/98 54.8% 22.8% 12.6% 4.3% 2.7% 2.7%

6/30/98 54.4% 22.4% 13.0% 4.6% 2.8% 2.9%

9/30/98 55.6% 22.0% 11.8% 4.7% 3.0% 2.9%

12/31/98 58.7% 20.9% 10.1% 4.6% 2.9% 2.9%

3/31/99 58.6% 21.8% 8.7% 4.8% 3.1% 3.1%

6/30/99 59.5% 22.3% 7.0% 4.9% 3.2% 3.1%

9/30/99 60.9% 21.7% 6.6% 4.9% 3.0% 2.9%

12/31/99 62.6% 21.2% 6.6% 4.8% 2.0% 2.8%

3/31/00 62.6% 21.2% 6.5% 5.1% 2.1% 2.6%

6/30/00 62.7% 21.4% 6.6% 5.0% 2.2% 2.1%

9/30/00 64.0% 20.9% 6.4% 5.0% 1.8% 1.9%

12/31/00 66.4% 19.5% 6.0% 4.7% 1.7% 1.7%

3/31/01 67.0% 18.9% 5.9% 4.7% 1.7% 1.7%

6/30/01 66.5% 18.9% 6.2% 4.9% 1.8% 1.7%

9/30/01 69.5% 17.8% 5.3% 4.3% 1.6% 1.5%

12/31/01 68.9% 19.1% 5.0% 4.3% 1.4% 1.4%

3/31/02 67.0% 22.1% 5.1% 4.1% 0.4% 1.3%

6/30/02 63.2% 25.7% 5.5% 4.0% 0.4% 1.2%

9/30/02 61.5% 26.8% 6.0% 4.2% 0.0% 1.5%

12/31/02 60.9% 27.1% 6.1% 4.3% 0.0% 1.6%

3/31/03 61.5% 26.1% 6.5% 4.4% 0.0% 1.5%

6/30/03 59.4% 27.2% 7.0% 4.8% 0.0% 1.5%

9/30/03 57.6% 27.7% 7.6% 5.6% 0.0% 1.5%

12/31/03 55.5% 28.0% 8.9% 6.1% 0.0% 1.6%

3/31/04 55.1% 27.4% 9.5% 6.2% 0.0% 1.8%

6/30/04 52.9% 27.8% 10.4% 6.7% 0.0% 2.3%

9/30/04 54.1% 26.7% 10.5% 6.0% 0.0% 2.7%

12/31/04 54.5% 26.1% 10.4% 5.6% 0.0% 3.4%

3/31/05 55.6% 25.2% 10.1% 5.3% 0.0% 3.8%

6/30/05 52.4% 26.6% 10.8% 5.6% 0.0% 4.6%

9/30/05 52.9% 26.3% 10.8% 5.7% 0.0% 4.4%

12/31/05 56.4% 23.7% 10.4% 5.5% 0.0% 4.0%

3/31/06 57.4% 23.0% 9.8% 5.1% 0.8% 3.8%

6/30/06 54.4% 24.3% 10.9% 5.4% 0.9% 4.1%
$ billions 

Bills 2-under 5 years 5-10 years Over 10 years Buybacks Total 5yr 10yr 5-10yr 20yr 30yr 20-30y

FY 1998 -64 -60 -53 34 0 -79 8 8 17 0 17 17 

1999 15 -77 -103 33 0 -147 0 24 24 0 7 7 2000 -37 -85 -101 13 -21 -195 0 11 11 0 7 7 2001 119 -105 -105 11 -34 -232 0 11 11 0 5 5 2002 133 218 -130 -8 -13 68 -19 16 -3 0 5 5 2003 50 269 9 -16 0 262 0 24 24 0 0 0 2004 43 118 193 -25 0 285 0 40 40 11 0 11 2005 -47 58 162 -31 0 188 21 37 58 17 0 17 2006 -5 -26 142 14 130 18 35 53 22 22 

2007 66 53 143 31 226 23 18 41 19 19 2008 -58 59 139 9 206 21 14 35 18 18 2009 32 15 51 21 88 22 17 39 19 19 

2010 -4 15 74 27 116 -11 22 12 19 19 

2011 -8 -5 80 32 106 9 23 32 19 19 

Hypothetical amounts

Nominal Coupons TIPS
FY 06 Deficit Estimates 

Primary Dealers* CBO 

Current: 291 300 Range based on average absolute forecast error 273-309 289-311 Estimates as of: July 06 May 06 

Note: Ranges based on errors from 1997-2005.

* Primary Dealers reflect average estimate.
Financing Residuals Given Current Issuance Pattern

$ billions, Fiscal Year

Budget estimates 2006 2007 2008 2009 2010

line Plus average absolute error in OMB estimate 229 441 378 420 459

OMB FY2007 MSR--- Net Financing 205 343 207 176 142

Minus average absolute error in OMB estimate 181 245 36 -69 -176

Note: (+) Deficit, (-) Surplus

Estimated financing changes from current pattern

bar Plus average absolute error in OMB estimate 17 239 163 308 344

OMB FY2007 MSR--- Net Financing residual -7 141 -8 64 27

Minus average absolute error in OMB estimate -31 43 -179 -180 -290

note: (-) implies less financing required

 (+) implies more financing required 

Assumes current coupon issuance pattern and issuance amount--Weekly bill issuance at levels required to maintain outstanding

FY $ amounts nearly equal to September 30, 2005 total outstanding.

Potential errors were estimated with a linear least-squares regression using OMB’s budget forecasts since the 

1989 Budget and OMB’s Mid-Sessions Reviews since the MSR for the 1998 Budget. 

Note: FY 2006 net financing amount is an internal estimate. 
FY Gross Domestic Product (Bil.$) Surplus/Deficit (Bil.$) Debt held by the public Surplus/Deficit % of GDP Debt % of GDP

1950 $273.4 -$3.1 $219.0 -1.1% 80.1%

1951 321.0 6.1 214.3 1.9% 66.8%

1952 348.8 -1.5 214.8 -0.4% 61.6%

1953 373.4 -6.5 218.4 -1.7% 58.5%

1954 378.0 -1.2 224.5 -0.3% 59.4%

1955 395.2 -3.0 226.6 -0.8% 57.3%

1956 427.7 3.9 222.2 0.9% 51.9%

1957 450.7 3.4 219.3 0.8% 48.7%

1958 461.1 -2.8 226.3 -0.6% 49.1%

1959 492.1 -12.8 234.7 -2.6% 47.7%

1960 518.9 0.3 236.8 0.1% 45.6%

1961 531.8 -3.3 238.4 -0.6% 44.8%

1962 568.5 -7.1 248.0 -1.3% 43.6%

1963 599.7 -4.8 254.0 -0.8% 42.4%

1964 641.3 -5.9 256.8 -0.9% 40.1%

1965 687.9 -1.4 260.8 -0.2% 37.9%

1966 754.2 -3.7 263.7 -0.5% 35.0%

1967 813.5 -8.6 266.6 -1.1% 32.8%

1968 868.4 -25.2 289.5 -2.9% 33.3%

1969 949.2 3.2 278.1 0.3% 29.3%

1970 1013.2 -2.8 283.2 -0.3% 28.0%

1971 1081.4 -23.0 303.0 -2.1% 28.0%

1972 1181.5 -23.4 322.4 -2.0% 27.3%

1973 1308.1 -14.9 340.9 -1.1% 26.1%

1974 1442.1 -6.1 343.7 -0.4% 23.8%

1975 1559.8 -53.2 394.7 -3.4% 25.3%

1976 1736.7 -73.7 477.4 -4.2% 27.5%

1977 1974.3 -53.7 549.1 -2.7% 27.8%

1978 2217.0 -59.2 607.1 -2.7% 27.4%

1979 2500.7 -40.7 640.3 -1.6% 25.6%

1980 2726.7 -73.8 711.9 -2.7% 26.1%

1981 3054.7 -79.0 789.4 -2.6% 25.8%

1982 3227.6 -128.0 924.6 -4.0% 28.6%

1983 3440.7 -207.8 1137.3 -6.0% 33.1%

1984 3840.2 -185.4 1307.0 -4.8% 34.0%

1985 4141.5 -212.3 1507.3 -5.1% 36.4%

1986 4412.4 -221.2 1740.6 -5.0% 39.4%

1987 4647.1 -149.7 1889.8 -3.2% 40.7%

1988 5008.6 -155.2 2051.6 -3.1% 41.0%

1989 5400.5 -152.6 2190.7 -2.8% 40.6%

1990 5735.4 -221.1 2411.6 -3.9% 42.0%

1991 5935.1 -269.3 2689.0 -4.5% 45.3%

1992 6239.9 -290.3 2999.7 -4.7% 48.1%

1993 6575.5 -255.1 3248.4 -3.9% 49.4%

1994 6961.3 -203.2 3433.1 -2.9% 49.3%

1995 7325.8 -164.0 3604.4 -2.2% 49.2%

1996 7694.1 -107.5 3734.1 -1.4% 48.5%

1997 8182.4 -21.9 3772.3 -0.3% 46.1%

1998 8627.9 69.2 3721.1 0.8% 43.1%

1999 9125.3 125.5 3632.4 1.4% 39.8%

2000 9709.8 236.2 3409.8 2.4% 35.1%

2001 10057.9 128.2 3319.6 1.3% 33.0%

2002 10389.2 -157.8 3540.4 -1.5% 34.1%

2003 10838.8 -377.6 3913.4 -3.5% 36.1%

2004 11552.8 -412.1 4295.5 -3.6% 37.2%

2005 12487.0 -318.3 4592.2 -2.5% 36.8%

2006 est 13331 -296 4895 -2.2% 36.7%

2007 est 14106 -339 5253 -2.4% 37.2%

2008 est 14885 -188 5460 -1.3% 36.7%

2009 est 15678 -157 5635 -1.0% 35.9%

2010 est 16505 -123 5777 -0.7% 35.0%

2011 est 17371 -127 5923 -0.7% 34.1%

SOURCE: Budget Historical Tables 1.1, 1.2 & 7.1

Debt held by the public excludes any debt held by government accounts.

Surplus/Deficit includes on and off-budget receipts and outlays.

FY 2006-11 estimates from OMB MSR Budget of the United States Government FY 2007.
Calendar Estimated foreign holdings Foreign and International Institutional Holdings at FRBNY

 Quarter as % of private. 2/ as % of private. 3/

1993 1Q 20% 10%

2Q 20% 11%

3Q 21% 11%

4Q 21% 11%

1994 1Q 21% 12%

2Q 21% 12%

3Q 22% 13%

4Q 21% 13%

1995 1Q 22% 13%

2Q 23% 14%

3Q 25% 15%

4Q 25% 15%

1996 1Q 27% 16%

2Q 28% 16%

3Q 29% 17%

4Q 32% 18%

1997 1Q 34% 19%

2Q 35% 19%

3Q 36% 19%

4Q 36% 18%

1998 1Q 36% 18%

2Q 38% 18%

3Q 37% 17%

4Q 38% 18%

1999 1Q 38% 18%

2Q 39% 19%

3Q 40% 19%

4Q 39% 20%

2000 1Q 35% 20%

2Q 36% 21%

3Q 36% 21%

4Q 36% 20%

2001 1Q 36% 21%

2Q 37% 21%

3Q 36% 22%

4Q 37% 21%

2002 1Q 37% 21%

2Q 40% 22%

3Q 41% 22%

4Q 41% 23%

2003 1Q 42% 23%

2Q 44% 24%

3Q 45% 24%

4Q 45% 26%

2004 1Q 48% 27%

2Q 49% 28%

3Q 50% 29%

4Q 50% 29%

2005 1Q 51% 28%

2Q 49% 29%

3Q 50% 28%

4Q 51% 28%

2006 1Q 51% 27%

2Q* 51% 27%

1/ Privately held debt excludes holdings of the Federal Reserve System.

2/ Series for estimated foreign holdings. See www.treas.gov/tic/index.html for source data.

3/ Source: Federal Reserve Bank of New York statistical release H4.1.

* Estimated foreign holdings data through May 31, 2006.

 FOREIGN HOLDINGS AS A PERCENT OF TOTAL PRIVATELY HELD PUBLIC DEBT 1/
Treasury Auction Release Times

August 2005 - July 2006

(In Minutes and Seconds)

Auction Date Security Type Release Time Auction Date Security Type Release Time

08/01/05 13-WEEK 01:35 02/06/06 13-WEEK 01:36

08/01/05 26-WEEK 01:43 02/06/06 26-WEEK 01:45

08/02/05 4-WEEK 01:32 02/07/06 4-WEEK 01:40

08/08/05 13-WEEK 01:34 02/07/06 3-YEAR 01:39

08/08/05 26-WEEK 01:43 02/08/06 10-YEAR 01:39

08/08/05 3-YEAR 01:35 02/09/06 30-YEAR 01:43

08/09/05 4-WEEK 01:35 02/13/06 13-WEEK 01:42

08/10/05 5-YEAR 01:34 02/13/06 26-WEEK 01:42

08/11/05 10-YEAR 01:34 02/14/06 4-WEEK 01:40

08/15/05 13-WEEK 01:46 02/21/06 13-WEEK 01:40

08/15/05 26-WEEK 01:38 02/21/06 26-WEEK 01:42

08/16/05 4-WEEK 01:31 02/22/06 4-WEEK 01:38

08/22/05 13-WEEK 01:42 02/22/06 2-YEAR 01:34

08/22/05 26-WEEK 01:48 02/23/06 5-YEAR 01:38

08/23/05 4-WEEK 01:39 02/27/06 13-WEEK 01:41

08/24/05 2-YEAR 01:41 02/27/06 26-WEEK 01:44

08/29/05 13-WEEK 01:39 02/28/06 4-WEEK 01:38

08/29/05 26-WEEK 01:42 03/01/06 12-DAY 01:43

08/30/05 14-DAY 01:42 03/06/06 13-WEEK 01:45

08/30/05 4-WEEK 01:39 03/06/06 26-WEEK 01:38

08/31/05 13-DAY 01:41 03/07/06 6-DAY 01:42

09/06/05 6-DAY 01:41 03/07/06 4-WEEK 01:36

09/06/05 13-WEEK 01:37 03/09/06 9-YEAR 11-MONTH 01:44

09/06/05 26-WEEK 01:47 03/13/06 13-WEEK 01:41

09/07/05 4-WEEK 01:37 03/13/06 26-WEEK 01:40

09/07/05 5-YEAR 01:38 03/14/06 1-DAY 01:39

09/08/05 9-YEAR 11-MONTH 01:35 03/14/06 4-WEEK 01:35

09/12/05 13-WEEK 01:39 03/20/06 13-WEEK 01:40

09/12/05 26-WEEK 01:42 03/20/06 26-WEEK 01:40

09/13/05 4-WEEK 01:41 03/21/06 4-WEEK 01:38

09/19/05 13-WEEK 01:41 03/27/06 13-WEEK 01:39

09/19/05 26-WEEK 01:44 03/27/06 26-WEEK 01:41

09/20/05 4-WEEK 01:39 03/27/06 2-YEAR 01:39

09/26/05 13-WEEK 01:54 03/28/06 4-WEEK 01:41

09/26/05 26-WEEK 01:38 03/29/06 5-YEAR 01:44

09/27/05 4-WEEK 01:39 03/30/06 14-DAY 01:40

09/28/05 2-YEAR 01:39 04/03/06 13-WEEK 01:43

10/03/05 13-WEEK 01:44 04/03/06 26-WEEK 01:46

10/03/05 26-WEEK 01:51 04/04/06 4-WEEK 01:36

10/04/05 4-WEEK 01:39 04/05/06 11-DAY 01:35

10/05/05 11-DAY 01:40 04/06/06 10-DAY 01:41

10/11/05 13-WEEK 01:52 04/10/06 13-WEEK 01:53

10/11/05 26-WEEK 01:42 04/10/06 26-WEEK 01:48

10/12/05 4-WEEK 01:37 04/11/06 4-WEEK 01:36

10/12/05 5-YEAR 01:38 04/12/06 4-DAY 01:42

10/13/05 9-YEAR 9-MONTH 01:38 04/12/06 9-YEAR 9-MONTH TIPS 01:39

10/17/05 13-WEEK 01:40 04/17/06 13-WEEK 01:38

10/17/05 26-WEEK 01:43 04/17/06 26-WEEK 01:45

10/18/05 4-WEEK 01:39 04/18/06 4-WEEK 01:39

10/24/05 13-WEEK 01:40 04/24/06 13-WEEK 01:38

10/24/05 26-WEEK 01:47 04/24/06 26-WEEK 01:40

10/25/05 4-WEEK 01:41 04/25/06 4-WEEK 01:40

10/25/05 4-YEAR 6-MONTH TIPS 01:40 04/25/06 5-YEAR TIPS 01:39

10/26/05 2-YEAR 01:41 04/26/06 2-YEAR 01:40

10/31/05 13-WEEK 01:41 04/27/06 5-YEAR 01:40

10/31/05 26-WEEK 01:42 05/01/06 13-WEEK 01:40

11/01/05 4-WEEK 01:38 05/01/06 26-WEEK 01:47

11/07/05 1-DAY 01:37 05/02/06 4-WEEK 01:38

11/07/05 13-WEEK 01:44 05/08/06 13-WEEK 01:40

11/07/05 26-WEEK 01:53 05/08/06 26-WEEK 01:46

11/08/05 4-WEEK 01:38 05/09/06 4-WEEK 01:39

11/08/05 3-YEAR 01:37 05/09/06 3-YEAR 01:35

11/09/05 5-YEAR 01:37 05/11/06 10-YEAR 01:38

11/10/05 10-YEAR 01:37 05/15/06 13-WEEK 01:42

11/14/05 13-WEEK 01:35 05/15/06 26-WEEK 01:41

11/14/05 26-WEEK 01:43 05/16/06 4-WEEK 01:36

11/15/05 4-WEEK 01:42 05/22/06 13-WEEK 01:41

11/21/05 13-WEEK 01:42 05/22/06 26-WEEK 01:39

11/21/05 26-WEEK 01:45 05/23/06 4-WEEK 01:39

11/22/05 4-WEEK 01:41 05/24/06 2-YEAR 01:40

11/23/05 2-YEAR 01:40 05/25/06 5-Year 01:39

11/28/05 13-WEEK 01:50 05/30/06 13-DAY 01:38

11/28/05 26-WEEK 01:53 05/30/06 13-WEEK 01:36

11/29/05 14-DAY 01:39 05/30/06 26-WEEK 01:40

11/29/05 4-WEEK 01:44 05/31/06 4-WEEK 01:42

11/30/05 13-DAY 01:40 06/05/06 13-DAY 01:39

12/05/05 13-WEEK 01:46 06/05/06 13-WEEK 01:38
12/05/05 26-WEEK 01:47 06/05/06 26-WEEK 01:41

12/06/05 4-WEEK 01:40 06/06/06 4-WEEK 01:36

12/07/05 7-DAY 01:39 06/08/06 9-YEAR 11-MONTH 01:37

12/07/05 5-YEAR 01:41 06/12/06 13-WEEK 01:40

12/08/05 9-YR 11-MO 01:38 06/12/06 26-WEEK 01:38

12/12/05 13-WEEK 01:33 06/13/06 4-WEEK 01:37

12/12/05 26-WEEK 01:46 06/19/06 13-WEEK 01:42

12/13/05 4-WEEK 01:35 06/19/06 26-WEEK 01:38

12/19/05 13-WEEK 01:41 06/20/06 4-WEEK 01:37

12/19/05 26-WEEK 01:48 06/26/06 13-WEEK 01:40

12/20/05 4-WEEK 01:39 06/26/06 26-WEEK 01:36

12/27/05 13-WEEK 01:53 06/27/06 4-WEEK 01:36

12/27/05 26-WEEK 01:42 06/27/06 2-YEAR 01:37

12/28/05 4-WEEK 01:37 06/28/06 5-YEAR 01:37

12/29/05 14-DAY 01:39 07/03/06 13-WEEK 01:39

12/29/05 2-YEAR 01:41 07/03/06 26-WEEK 01:43

01/03/06 13-WEEK 01:43 07/05/06 4-WEEK 01:38

01/03/06 26-WEEK 01:52 07/10/06 13-WEEK 01:38

01/04/06 4-WEEK 01:40 07/10/06 26-WEEK 01:48

01/09/06 13-WEEK 01:40 07/11/06 4-WEEK 01:39

01/09/06 26-WEEK 01:48 07/13/06 10-YEAR TIPS 01:38

01/10/06 4-WEEK 01:38 07/17/06 13-WEEK 01:46

01/11/06 5-YEAR 01:38 07/17/06 26-WEEK 01:46

01/12/06 10-YEAR TIPS 01:36 07/18/06 4-WEEK 01:41

01/17/06 13-WEEK 01:45 07/24/06 13-WEEK 01:45

01/17/06 26-WEEK 01:42 07/24/06 26-WEEK 01:44

01/18/06 4-WEEK 01:40 07/25/06 4-WEEK 01:38

01/23/06 13-WEEK 01:47 07/25/06 9-YEAR 11-MONTH TIPS 01:37

01/23/06 26-WEEK 01:45 07/26/06 2-YEAR 01:37

01/24/06 4-WEEK 01:39 07/27/06 5-YEAR 01:45

01/24/06 20-YEAR TIPS 01:39

01/25/06 2-YEAR 01:38

01/30/06 13-WEEK 01:41

01/30/06 26-WEEK 01:47

01/31/06 4-WEEK 01:39