Jan. 27 (Bloomberg) — The U.S. will borrow less money this year than at any time since 2008, validating the nation's decision to go deeper into debt to combat the financial crisis as faster growth shrinks the deficit, Wall Street's biggest bond dealers say.

The government will sell $717 billion of notes and bonds on a net basis, 14 percent less than last year, according to a survey of primary dealers which are obligated to bid at Treasury auctions. Issuance has fallen every year since the U.S. borrowed a record $1.607 trillion in 2010, data compiled by the Securities Industry and Financial Markets Association show.

Helped by the Federal Reserve's unprecedented stimulus, the Obama administration's deficit spending has enabled the American economy to recover faster from the first global recession since World War II than European countries that chose austerity. With the U.S. expansion forecast to narrow the budget shortfall to a six-year low this year, the drop in bond supply may support Treasuries as the Fed pares its own debt purchases.