U.S. Treasury Seeks To Borrow Record $2.9 Trillion In Second Quarter

U.S. Treasury Seeks To Borrow Record $2.9 Trillion In Second Quarter

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The U.S. Treasury announced a record borrowing of $2.999 trillion for the April to June fiscal quarter to fund federal relief efforts and cover revenue shortages due to the tax deadline extension. This amount is significantly higher than past records, including during the 2008 financial crisis. The Treasury also plans to borrow an additional $677 billion in the next quarter.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What was the borrowing amount for the entire last year compared to the current quarter's borrowing?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What additional amount does the Treasury expect to borrow during the upcoming July to September quarter?

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