Government to Sell $55 Billion in Bonds

WASHINGTON – The government will sell $55 billion in bonds next week as part of a massive borrowing to pay for its financial rescue programs.

The Treasury Department says it is bringing back its three-year notes to help cover the increased borrowing needs, and will auction $25 billion of them on Monday. The government also will offer $20 billion in 10-year notes next Wednesday, and $10 billion in 29 3/4-year bonds on Thursday.

The government plans to borrow a record $550 billion in the last three months of the year to help pay for the various financial rescue packages put into effect in response to the global crisis.