Treasury to sell more debt to deal with borrowing

WASHINGTON (AP) -- The Treasury Department, facing huge borrowing needs because of the government's $700 billion rescue program, says it will increase the size of Treasury securities being sold to the public.

The Treasury said Wednesday it will expand the number of Treasury securities which are currently being traded as a way to boost borrowing and fund programs such as the $700 billion financial bailout plan.

In a statement, the department said this will also deal with what it called "severe dislocations in the market." The demand for safe Treasury securities has soared during the current credit crisis.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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