Remarks by Assistant Secretary for Financial Markets Joshua Frost on Principles of U.S. Debt Management Policy

As Prepared for Delivery Good evening and thank you to the Money Marketeers’ leadership for inviting me to speak with you this evening. I have been to several Money Marketeers events throughout the course of my career and firmly believe in the Money Marketeers’ laudable goal of “establish(ing) greater dialogue between the public and private sector on…substantive issues that move markets.” Consistent with this goal, a broad understanding of the way in which the Treasury Department finances the U.S. government is very much in the best interest of the taxpayer. Tonight, I will seek to demystify that process and explain the core principles that underlie our debt management strategy.While Congress decides how much money the government spends and how much to raise in taxes, Treasury is responsible for financing the government.