LS-454: STATEMENT BY TREASURY SECRETARY LAWRENCE H. SUMMERS



	FROM THE OFFICE OF PUBLIC AFFAIRS March 9, 2000 LS-454 STATEMENT BY TREASURY SECRETARY LAWRENCE H. SUMMERS We took another step today in paying down the debt with our first buyback of $1 billion of outstanding government securities. This is an important milestone in the management of our debt and represents the first U.S. government buyback operation in 70 years. It is a sign of the success of the Administration's economic policies. Buyback operations are an important debt management tool that can reduce the cost to the American taxpayer. We were pleased with the success of today's operation.