On the maturity distribution of the public debt
In 2009 we reached the point where almost 50% of the debt outstanding was due in one year or less. (Table B88 of the 2009 Economic Report of the President indicates that from November 2007 to November 2008 the fraction of the debt due in one year or less increased from 34% to 48%.) In 2009 Treasury has worked at restoring balance to the maturity distribution of the debt, which since the late 80s has been approximately one-third less than one year maturity, one-third one to five year maturity and one-third long-term debt.
Given that this transition has been taking place throughout 2009 and that it does not appear to have adversely affected the prospects of recovery (such as they are), returning the maturity distribution of the debt to its historic norm seems to be a reasonable goal.