U.S. T-Bills: The New Junk Bonds

To borrow the Presidents Swine Flu analogy, this sounds a little like closing the barn door after the horse have already left.

From Bloomberg.com:

Geithner Vows to Cut U.S. Deficit on Rating Concern

Treasury Secretary Timothy Geithner committed to cutting the budget deficit as concern about deteriorating U.S. creditworthiness deepened, and ascribed a sell-off in Treasuries to prospects for an economic recovery.

“It’s very important that this Congress and this president put in place policies that will bring those deficits down to a sustainable level over the medium term,” Geithner
said in an interview with Bloomberg Television yesterday.