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The U.S. government will borrow more than $1 trillion over the next three months, the Treasury Department projects.
According to the latest marketable borrowing estimates, released on July 28, the Treasury expects to borrow $1.007 trillion during the July-to-September quarter.
This is nearly double the previous estimate of $554 billion in April, “primarily due to the lower beginning-of-quarter cash balance and projected lower net cash flows,” the Treasury said in a statement announcing the estimates.
During the October-to-December period, the Treasury anticipates that it will borrow $590 billion, assuming a cash balance of $850 billion at the end of December.
New data confirmed that the Treasury borrowed $65 billion during the April-to-June quarter and finished the quarter with a cash balance of $457 billion.
