US Treasury projects record Q3 borrowing of $947 billion
The Treasury Department is projecting government borrowing of $947 billion in the current JulySeptember period, which would be a record for the quarter but down from the alltime high of $2.75 trillion in this year's second quarter .
- Associated Press
- Last Updated: August 3, 2020, 7:18 PM IST
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WASHINGTON The Treasury Department is projecting government borrowing of $947 billion in the current July-September period, which would be a record for the quarter but down from the all-time high of $2.75 trillion in this year’s second quarter .
Treasury officials announced Monday that the government also plans to borrow $1.22 trillion in the October-December period.
Those amounts include $1 trillion in expected borrowing to finance another economic stimulus package, which is tied up in negotiations between Democrats and Republicans.
Treasury officials said the $1 trillion amount, spread over this quarter and the October-December period, is essentially a place holder since both sides remain far apart in how much the country should provide in economic support on top of the more than $3 trillion Congress has already provided.
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