FINANCIAL TIMES: The US Treasury expects to pay down debt in the second quarter of 2013 as the budget deficit that has dominated national politics starts to shrink.
The forecast of a quarter of net debt repayment for the first time since 2007 shows how tax increases, a cyclical recovery in tax revenues and a squeeze on spending are ratcheting down the budget deficit.
Ahead of an announcement on Wednesday on the details of its quarterly borrowing schedule, the Treasury said it expects to repay a net $35bn in the second quarter, compared with a February estimate that it would have to borrow $103bn… (more)
