Treasury Department Expects to Borrow $2 Trillion Over Second Half of 2020
The Debt

Treasury Department Expects to Borrow $2 Trillion Over Second Half of 2020

iStockphoto

The Treasury Department said Monday that it expects to borrow another $2 trillion over the second half of this year, including $947 billion from July through September and $1.216 trillion from October through December. Those estimates would raise total borrowing for fiscal year 2020, which runs through September, to $4.5 trillion, more than triple last year’s level. The estimates also assume that Congress will pass another round of coronavirus relief requiring $1 trillion in additional borrowing through the end of the calendar year.

TOP READS FROM THE FISCAL TIMES