While investors fixate on the AI boom, a warning from a group of Wall Street bankers whose job is to help the U.S. government borrow went unnoticed.
In minutes released Aug. 5, the Treasury Borrowing Advisory Committee—a panel of senior bond dealers and investors, known as TBAC, that advises the Treasury on its own funding—warned that at current auction sizes, the government faces a $1.45 trillion funding shortfall in fiscal 2027–28.
