Treasury Borrowing $3T As Part of Stimulus

The U.S. Treasury will reportedly borrow $3 trillion this quarter, most of it related to COVID-19-relief stimulus programs, reportedly making the government’s debt about $25 trillion.

Next quarter, the department also plans to borrow “$677 billion in privately-held net marketable debt, assuming an end-of-September cash balance of $800 billion.” In the first quarter, Treasury borrowed $477 billion.

Meanwhile, the CNBC reports the federal deficit is running at about $744 billion.

Click here to read the full Treasury statement.