The government is borrowing money – a lot of money!
The good news is that they are borrowing less this quarter than they had estimated. The bad news is that they are borrowing $362 billion in the current quarter, down from an estimate of $380 billion made in August.
Our deficit has “improved”, too. It reached $1.3 trillion in the 2010 budget year that just ended, down from a record-setting $1.42 trillion for the previous budget year.
The Series EE Savings Bonds
According to the Treasury Department, “Bad economic news tends to turn investors to buying Treasury bonds and government savings bonds like Series EE savings bonds. Treasury bonds can be part of your investment strategy to grow wealth.”
The Treasury Department has a concise overview of information relating to Series EE savings bonds. It includes:
1) Suggested uses for these bonds
2) Information about the rate of return
3) How to purchase via Treasury Direct
4) Who can own paper Series EE/E Bonds
5) Buying Electronic EE Bonds
6) Buying Paper EE Bonds
Savings bond calculator
Treasury Direct has a very simple way to calculate the value of your paper savings bond(s).
Using the calculator that is provided, enter the type of bond by choosing from EE Bonds, I Bonds, E Bonds or Savings Notes; the denomination (select from $50 to $10,000), and type in the bond serial number and the issue date. Click on update.
For detailed instructions, click here.
One thing to keep in mind regarding these savings bonds, if you redeem EE/E Bonds in the first 5 years, you’ll forfeit the 3 most-recent months’ interest. If you redeem them after 5 years, you won’t be penalized.