US Treasury to borrow record $2.999 trillion in Q2

Washington (AFP) – The United States Treasury said Monday it will to borrow a record $2.999 trillion in the April-June period largely to finance spending on relief programs amid the coronavirus pandemic.That amount for the second quarter is five times the most spent in any three month period and far outstrips total debt issued in most years. In the 2019 fiscal year, the government issued just $1.28 trillion in debt, a Treasury official told reporters.The increase is “primarily driven by the impact of the COVID-19 outbreak, including expenditures from new legislation to assist individuals and b…

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