US bond auctions to go on even if gov’t shuts down

WASHINGTON, April 6 (Reuters) – The U.S. Treasury will
continue to issue bonds regardless of whether the government
shuts down, the country’s public debt office said on
Wednesday.

The Obama administration and federal agencies are
scrambling to figure out contingency plans if Republican and
Democratic lawmakers fail to hash out a budget deal to keep the
government funded beyond Friday, April 8.

On top of selling debt needed to operate the government,
taxes will be collected. It is not known what other functions
will be suspended at the Treasury Department.

Approximately 20 bond auctions are scheduled for April. In
2010, Treasury conducted about 301 bond auctions and issued
some $8.4 trillion in securities.
( Reporting by Rachelle Younglai, Editing by W Simon )

US bond auctions to go on even if gov’t shuts down