($ billions)

Issued Matured

Net SOMA 

Activity * 

Net Cash 

Raised Issued Matured

Bills (includes SFPs) $6,920.5 $6,417.8 $0.0 $502.7 $4,632.9 $4,101.2 Nominal coupons $1,886.6 $640.7 $0.0 $1,245.9 $814.6 $626.2 

Treasury Marketable Financing

FY 2009 F

October 1, 2008 - September 30, 2009 October 1, 2007 

TIPS $58.5 $20.8 $0.0 $37.7 $61.9 $21.8 Total $8,865.6 $7,079.3 $0.0 $1,786.3 $5,509.5 $4,749.2 

* Note: Negative SOMA activity represents redemptions.  Positive SOMA activity represents additional issuance of securities, made possible by redemptions in maturing securities with the same settlement date; these are offsetting transactions and are net cash neutral.
Marketable Treasury Coupon Flows 

Date

Maturing Coupon 

Securities 

(Excluding SOMA 

holdings)

Coupon 

Payments

November 15, 2009 38 21 November 30, 2009 21 4 December 15, 2009 15 1 December 31, 2009 ece be 3 , 009 23 4 

January 15, 2010 26 6 January 31, 2010 25 4 February 15, 2010 48 27 February 28, 2010 26 5 
$ billions

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

Fiscal Year Quarters

2004 1Q 10.6 44.1 62.2 -12.5 0.0 9.0 0.0 113.4

2Q 56.2 30.9 46.7 0.0 0.0 12.0 0.0 145.9

3Q -38.2 25.8 43.0 -8.4 0.0 9.0 0.0 31.3

4Q 14.7 16.7 40.6 -4.0 0.0 10.0 11.0 89.0

2005 1Q 41.7 20.4 27.2 -12.5 0.0 21.0 0.0 97.8

2Q 55.9 12.5 57.0 -2.3 0.0 10.0 11.0 144.2

3Q -135.7 17.5 28.9 -7.2 0.0 18.0 0.0 -78.5

4Q -9.2 7.3 48.4 -9.3 0.0 9.0 6.0 52.3

2006 1Q 49.6 10.1 21.9 -4.1 0.0 15.0 0.0 92.5

2Q 78.2 -5.4 54.3 10.1 0.0 9.0 11.8 158.0

3Q -125.3 -14.0 31.6 -3.5 0.0 19.0 0.0 -92.1

4Q -5.2 -14.4 34.1 11.6 0.0 10.6 8.2 45.0

2007 1Q 32.7 -21.5 16.2 -4.0 0.0 18.6 0.0 41.9

2Q 88.9 -30.2 56.8 9.8 0.0 -8.8 9.2 125.7

3Q -164.0 -33.8 36.3 6.8 0.0 16.1 0.0 -138.7

4Q 89.0 -37.7 24.8 13.8 0.0 8.0 7.3 105.2

2008 1Q 45.8 -60.2 90.7 -2.6 0.0 13.2 0.0 86.8

Nominals TIPS

Treasury Quarterly Net Marketable Borrowing 

2Q 154.5 -16.6 42.2 13.3 0.0 -11.4 9.0 191.0

3Q -97.9 -7.6 37.0 9.2 0.0 14.7 0.0 -44.6

4Q 429.4 8.5 72.8 1.8 0.0 8.0 6.7 527.2

2009 1Q 376.9 79.8 87.7 11.8 0.0 6.3 7.0 569.3

2Q 166.9 135.5 157.2 25.9 0.0 -12.2 8.0 481.3

3Q -27.1 141.3 191.6 23.1 0.0 14.4 0.0 343.2

4Q -14.0 156.9 199.1 36.1 0.0 8.1 6.2 392.5

Note: Includes SOMA redemptions and SFPs.

Totals may not add due to rounding.
Fiscal Year $ billions

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

I 04 0.5 -0.5 0.8 0.8

II -1.2 -0.8 6.5 4.5

III -1.5 -0.3 5.8 3.9

IV -2.1 -0.6 -3.3 -6.0

I 05 -1.4 0.0 2.5 1.1

II -1.9 0.2 18.3 16.6

III -1.7 -1.6 27.7 24.4

IV -2.3 0.1 18.5 16.3

I 06 -0.2 0.7 10.3 10.7

II -1.1 -0.4 -0.7 -2.2

III -2.7 -0.4 7.2 4.1

IV -3.6 0.0 -3.2 -6.8

I 07 -3.1 0.0 18.8 15.7

Treasury Quarterly Net Borrowing From NonMarketable Issues 

II -3.8 0.5 24.3 21.0

III -3.5 -0.5 19.7 15.7

IV -3.4 0.0 -5.1 -8.5

I 08 -2.4 0.0 -3.3 -5.7

II -2.8 1.9 -6.9 -7.8

III -2.2 -1.8 -11.1 -15.1

IV -2.6 -0.1 -15.0 -17.6

I 09 -2.0 1.0 -10.9 -11.9

II -1.9 2.0 -9.2 -9.1

III -2.1 0.0 -7.1 -9.3

IV -2.7 -1.1 -16.5 -20.3
Percentage Breakdown of Quarterly Issuance

EOQ

ISSUE 

Bills 2-3 yrs 4-7 yrs 10-15 yrs Bonds TIPS

12/31/80 61.2% 20.5% 10.8% 4.6% 2.8%

3/31/81 61.6% 20.0% 10.7% 4.7% 3.0%

6/30/81 61.2% 19.6% 11.7% 4.1% 3.4%

9/30/81 61.0% 19.2% 12.6% 3.3% 3.9%

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

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

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

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

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

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

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

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

12/31/83 56.4% 23.0% 11.7% 3.8% 5.1%

3/31/84 56.4% 22.9% 11.5% 3.9% 5.3%

6/30/84 54.8% 23.6% 11.9% 4.1% 5.6%

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

12/31/84 56.2% 22.6% 11.7% 3.8% 5.6%

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

6/30/85 55.6% 22.7% 11.9% 3.9% 5.9%

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

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

3/31/86 54.4% 22.9% 12.0% 4.3% 6.4%

6/30/86 54.3% 23.1% 12.0% 4.6% 6.1%

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

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

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

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

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

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

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

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

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

12/31/88 54.7% 24.1% 12.3% 5.3% 3.6%

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

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

9/30/89 52.3% 24.3% 13.0% 5.3% 5.1%

12/31/89 53.0% 24.1% 12.6% 5.2% 5.0%

3/31/90 3/31/90 53 3%. 24 1%. 12 4%. 5 2%. 5 0%.

6/30/90 53.8% 24.0% 12.2% 5.1% 4.9%

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

12/31/90 57.1% 22.8% 11.1% 4.6% 4.4%

3/31/91 56.3% 23.4% 11.3% 4.6% 4.4%

6/30/91 53.8% 24.4% 12.4% 4.8% 4.6%

9/30/91 54.6% 23.3% 12.9% 4.7% 4.5%

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

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

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

9/30/92 54.6% 23.1% 14.5% 4.1% 3.7%

12/31/92 55.3% 22.7% 14.6% 3.9% 3.5%

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

ISSUE 

Bills 2-3 yrs 4-7 yrs 10-15 yrs Bonds TIPS

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

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 71.2% 16.8% 5.0% 4.1% 1.5% 1.4%

12/31/01 72.1% 17.2% 4.5% 3.8% 1.3% 1.2%

3/31/02 70.2% 19.9% 4.6% 3.7% 0.4% 1.2%

6/30/02 67.6% 22.6% 4.8% 3.5% 0.4% 1.1%

9/30/02 66.4% 23.4% 5.3% 3.6% 0% 1.3%

12/31/02 65.0% 24.3% 5.5% 3.8% 0% 1.4%

3/31/03 65.4% 23.5% 5.8% 4.0% 0% 1.3%

6/30/03 63.4% 24.6% 6.3% 4.4% 0% 1.3%

9/30/03 61.7% 25.0% 6.9% 5.1% 0% 1.4%

12/31/03 59.8% 25.3% 8.0% 5.5% 0% 1.4%

3/31/04 58.7% 25.2% 8.8% 5.7% 0% 1.6%

6/30/04 57.2% 25.2% 9.4% 6.1% 0% 2.1%

9/30/04 59.2% 23.7% 9.4% 5.3% 0% 1.9%

12/31/04 58.6% 23.8% 9.4% 5.1% 0% 2.5%

3/31/05 59.0% 23.3% 9.3% 4.9% 0% 2.4%

6/30/05 56.0% 24.6% 10.0% 5.2% 0% 3.1%

9/30/05 57.2% 23.9% 9.8% 5.1% 0.0% 3.1%

12/31/05 60.6% 21.4% 9.4% 5.0% 0.0% 2.7%

3/31/06 60.7% 21.3% 9.1% 4.7% 0.8% 2.6%

6/30/06 6/30/06 58.1% 22.3% 10.0% 4.9% 0.8% 2.8%

9/30/06 60.1% 20.5% 9.3% 4.8% 1.4% 2.8%

12/31/06 59.1% 21.2% 9.6% 4.7% 1.4% 3.0%

3/31/07 61.6% 19.0% 9.6% 4.7% 1.1% 3.1%

6/30/07 58.6% 19.9% 10.4% 5.3% 1.6% 3.2%

9/30/07 61.6% 17.7% 10.2% 5.2% 1.6% 2.8%

12/31/07 61.7% 17.4% 10.7% 5.3% 1.6% 2.5%

3/31/08 63.0% 16.4% 10.4% 5.4% 1.7% 2.3%

6/30/08 60.3% 17.4% 11.4% 5.9% 1.8% 2.3%

9/30/08 62.4% 16.8% 11.0% 5.5% 1.6% 2.0%

12/31/08 61.0% 17.6% 10.4% 6.8% 1.8% 1.8%

3/31/09 58.0% 19.5% 11.9% 6.7% 2.0% 1.4%

6/30/09 53.5% 21.3% 14.3% 6.8% 2.3% 1.3%

9/30/09 49.7% 22.8% 16.3% 6.9% 2.7% 1.1%

Average 58.12% 22.50% 10.82% 4.67% 3.19% 2.13%

CMB's are excluded
THE AVERAGE MATURITY OF TOTAL OUTSTANDING MARKETABLE DEBT AN

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

Avg Mat Iss* Average Maturity 

1-Yr Moving Average Total Outstanding

(months) (months)

12/31/80 74 48

3/31/81 73 48

6/30/81 74 50

9/30/81 76 51

12/31/81 77 50

3/31/82 77 50

6/30/82 64 50

9/30/82 57 49

12/31/82 55 47

3/31/83 56 47

6/30/83 69 48

9/30/83 78 50

12/31/83 83 51

3/31/84 84 52

6/30/84 86 53

9/30/84 86 54

12/31/84 86 55

3/31/85 87 56

6/30/85 88 57

9/30/85 89 58

12/31/85 90 59

3/31/86 89 60

6/30/86 90 61

9/30/86 89 62

12/31/86 89 62

3/31/87 88 64

6/30/87 88 65

9/30/87 88 66

12/31/87 83 66

3/31/88 82 66

6/30/88 82 67

9/30/88 67 66

12/31/88 74 67

3/31/89 73 67

6/30/89 74 68

9/30/89 90 69

12/31/89 89 69

3/31/90 90 69

6/30/90 89 69

9/30/90 87 69

12/31/90 86 68

3/31/91 85 68

6/30/91 85 69

9/30/91 84 68

12/31/91 85 68

3/31/92 82 67

6/30/92 80 68

9/30/92 77 67

12/31/92 75 67

3/31/93 74 67

6/30/93 73 67

9/30/93 73 67

12/31/93 61 65

3/31/94 62 65

6/30/94 51 64

9/30/94 51 64

12/31/94 51 63

3/31/95 51 62

6/30/95 51 61

9/30/95 9/30/95 52 62

12/31/95 52 60

3/31/96 52 60

6/30/96 52 60

9/30/96 50 61

12/31/96 62 61

3/31/97 60 61

6/30/97 61 62

9/30/97 62 62

12/31/97 63 63

3/31/98 65 63

6/30/98 75 65

9/30/98 84 67

12/31/98 85 65

3/31/99 87 65

6/30/99 88 67

9/30/99 81 68

12/31/99 78 67

3/31/00 79 67

6/30/00 67 69

9/30/00 64 70

12/31/00 62 69

3/31/01 62 69

6/30/01 62 71

9/30/01 60 68

12/31/01 58 66

3/31/02 42 65

6/30/02 41 64

9/30/02 32 62

12/31/02 25 60

3/31/03 26 59

6/30/03 27 58

9/30/03 27 57

12/31/03 28 56

3/31/04 29 55

6/30/04 31 55

9/30/04 34 55

12/31/04 33 54

3/31/05 37 53

6/30/05 37 55

9/30/05 36 54

12/31/05 36 53

3/31/06 44 53

6/30/06 44 54

9/30/06 54 55

12/31/06 54 54

3/31/07 52 54

6/30/07 58 56

9/30/07 59 56

12/31/07 65 55

3/31/08 66 55

6/30/08 67 56

9/30/08 64 52

12/31/08 65 49

3/31/09 64 49

6/30/09 65 51

9/30/09 67 53 Actual

9/30/10 75 58 Projected are hypothetic

9/30/11 76 59 Projected are hypothetic

9/30/12 74 60 Projected are hypothetic

9/30/13 75 61 Projected are hypothetic

9/30/14 75 62 Projected are hypothetic

9/30/15 76 62 Projected are hypothetic

9/30/16 76 63 Projected are hypothetic

9/30/17 75 64 Projected are hypothetic Projected are hypothetic

9/30/18 76 65 Projected are hypothetic

9/30/19 77 66 Projected are hypothetic

* Excludes CMB's.
Distribution of Marketable Debt Outstanding by Security

Bills 2-3 yrs 4-7 yrs 10-15 yrs Bonds TIPS

09/30/81 32.4% 20.7% 26.3% 6.6% 14.0%

09/30/82 33.5% 21.3% 24.3% 8.4% 12.5%

09/30/83 33.1% 23.6% 22.2% 8.9% 12.2%

09/30/84 30.2% 25.5% 21.2% 9.8% 13.4%

09/30/85 28.1% 24.6% 22.1% 10.6% 14.6%

09/30/86 26.2% 23.4% 24.4% 10.6% 15.4%

09/30/87 22.6% 23.9% 25.1% 11.9% 16.6%

09/30/88 22.3% 22.2% 25.7% 13.0% 16.8%

09/30/89 21.6% 20.7% 25.6% 14.2% 18.0%

09/30/90 23.1% 20.1% 24.2% 14.4% 18.2%

09/30/91 23.8% 20.9% 23.3% 14.2% 17.8%

09/30/92 23.8% 21.2% 23.8% 13.8% 17.3%

09/30/93 22.8% 21.5% 24.8% 13.7% 17.2%

09/30/94 22.7% 21.7% 25.1% 13.9% 16.6%

09/30/95 22.7% 21.5% 25.9% 13.9% 16.0%

09/30/96 22.4% 21.5% 25.8% 14.4% 16.0%

09/30/97 20.5% 21.4% 25.7% 15.0% 16.8% 0.7%

09/30/98 19.2% 19.7% 25.1% 15.9% 18.4% 1.8%

09/30/99 20.3% 17.9% 22.2% 16.8% 20.0% 2.9%

09/30/00 20.6% 16.2% 19.9% 18.2% 21.2% 3.8%

09/30/01 25.2% 13.3% 16.8% 19.1% 21.0% 4.6%

09/30/02 27.8% 18.2% 13.2% 17.4% 19.0% 4.4%

09/30/03 26.5% 23.7% 11.5% 16.8% 16.7% 4.8%

09/30/04 25.0% 24.4% 13.6% 16.9% 14.4% 5.8%

09/30/05 22.6% 23.9% 15.9% 17.1% 12.8% 7.5%

09/30/06 21.4% 21.5% 18.6% 16.7% 12.6% 9.3%

09/30/07 21.7% 18.1% 20.4% 16.7% 12.7% 10.4%

09/30/08 28.5% 15.3% 19.3% 15.7% 11.2% 10.0%

09/30/09 28.5% 18.7% 20.6% 14.6% 9.7% 7.9%

09/30/10 20.4% 23.5% 25.3% 14.5% 9.8% 6.6%

09/30/11 15.3% 25.3% 28.6% 14.6% 10.1% 6.2%

09/30/12 09/30/12 13 1%. 23 7%. 31 9%. 15 1%. 10 5%. 5 7%.

09/30/13 12.8% 20.8% 34.6% 15.3% 11.0% 5.5%

09/30/14 12.4% 19.4% 36.0% 15.4% 11.5% 5.3%

09/30/15 12.1% 19.3% 36.1% 15.6% 11.9% 5.1%

09/30/16 12.1% 18.9% 35.9% 15.9% 12.3% 4.9%

09/30/17 12.1% 19.1% 35.0% 16.4% 12.6% 4.7%

09/30/18 11.9% 19.0% 34.6% 16.7% 13.0% 4.8%

09/30/19 12.6% 18.6% 34.1% 16.4% 13.4% 4.8%

Projected are hypothetical

Totals may not add due to rounding
Percentage of Debt maturing in 12-36 months

MATURE in 

12mos in 24mos in 36mos

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 36.2% 50.4% 59.7%

12/31/06 35.7% 50.1% 58.6%

3/31/07 36.4% 50.9% 59.4%

6/30/07 34.0% 48.9% 57.7%

9/30/07 35.7% 50.6% 58.3%

12/31/07 36.0% 50.2% 57.5%

3/31/08 38.2% 52.5% 58.6%

6/30/08 36.3% 51.4% 57.1%

9/30/08 41.2% 54.8% 60.2%

12/31/08 43.5% 55.8% 61.8%

3/31/09 43.3% 55.0% 61.8%

6/30/09 41.1% 52.3% 60.3%

9/30/09 38.6% 49.7% 59.1%

9/30/2010 29% 44% 55%

9/30/2011 28% 43% 53%

9/30/2012 27% 41% 53%

9/30/2013 26% 41% 52%

9/30/2014 26% 41% 54%

9/30/2015 26% 42% 54%

9/30/2016 27% 42% 54%

9/30/2017 27% 43% 54%

9/30/2018 28% 42% 54%

9/30/2019 27% 42% 53%

Projected are hypothetical
FY 2010 Deficit Estimates $ b

Primary 

Dealers* CBO OM

Current: 1,393 1,381 1,50Range based on average absolute forecast error** 1,203-1,583 1,081-1,681 1,219-1Estimates as of: Oct 09 Aug 09 Aug FY 2010 Marketable Borrowing Range*** 1,200-1,750FY 2011 Marketable Borrowing Range*** 725-1,400

* Primary Dealers reflect average estimate. Based on Primary Dealer feedback on October 29, 2009.** Ranges based on errors from 2005-2009.*** Based on Primary Dealer feedback on October 29, 2009.