The Treasury tries to borrow money at the lowest cost to taxpayers and in the most boring, least attention-grabbing way possible.
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Biden's Treasury accused of trying to juice U.S. economy pre-election
The Treasury Department is being accused of trying to juice the economy ahead of the election, by changing how it finances government spending.
The big picture
This proves that everything — even wonky bond market auctions — can turn into a political fight.
Between the lines
The accusation: Short-term debt is becoming a rising share of all outstanding debt, while the share of long-term debt, like 10-year or 30-year bonds, stays flat. In turn, critics say the lower supply is preventing long-term interest rates from going up. Those rates influence borrowing costs across the economy.
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