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US Treasury projects record Q3 borrowing of $947 billion

The Treasury Department is projecting government borrowing of $947 billion in the current July-September period. (AP/file)
The Treasury Department is projecting government borrowing of $947 billion in the current July-September period. (AP/file)(AP Photo/Patrick Semansky)
Published: Aug. 3, 2020 at 3:11 PM CDT
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WASHINGTON (AP) - The Treasury Department is projecting government borrowing of $947 billion in the current July-September period, which would be a record for the quarter but down from the all-time high of $2.75 trillion in this year's second quarter.

Treasury officials announced Monday that the government also plans to borrow $1.22 trillion in the October-December period.

The amounts include $1 trillion in expected borrowing to finance another economic stimulus package, which at the moment is tied up in negotiations between Democrats and Republicans.

(Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)

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