Former Treasury Secretary Calls for Scrapping 20-Year Bond Former Treasury Secretary Steven Mnuchin has called for the discontinuation of the 20-year Treasury bond, which he reintroduced in 2020, citing its higher yields and additional costs to taxpayers. The bond’s reintroduction has resulted in approximately $2 billion in extra annual interest expenses, totaling around $40 billion over its lifespan. Despite the Biden administration’s preference for maintaining the bond to ensure stability, Mnuchin argues that the bond has not met expectations and is financially burdensome. The debate over the bond highlights the complexities of managing the U.S. government’s growing deficit. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Rise in Hong Kong Jewelry Market, Exports Up 6% in Early 2024 READ MORE Deciphering the U.S. Economy's Post-Pandemic Strength READ MORE U.S. Strategizes Financial Blockade on Chinese Banks Over Russia Support READ MORE 56% of Americans Unable to Cover $1,000 Emergency Costs READ MORE Gold Prices Rise Despite Weekly Downtrend as Fed Minutes Signal Caution READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment