Getting your player ready...
Washington – With budget deficits improving, the government said Wednesday it is discontinuing sales of three-year Treasury notes.
The Treasury Department said the last auction of three-year notes will occur next week.
The government’s borrowing needs peaked in the 2004 budget year, when the federal deficit hit an all-time high in dollar terms of $413 billion. Since then, the deficit has declined. Smaller budget deficits mean less need for the Treasury Department to sell bills, notes and bonds to the public.
