US Treasury to borrow whopping $3tn in Q2

US Treasury to borrow whopping $3tn in Q2

The US Treasury on Monday said it plans to borrow nearly $3tn in Q2 2020 — more than five times the previous record in 2008— as the govt spends swiftly to mitigate the impact of Covid-19 on the economy. The Treasury’s net borrowing in 2019, by contrast, was $1.28tn. The latest estimate is over the original target of Q2 issued in early Feb which instead expected repayment of $56bn debt by govt.

Milan
Milan
Sean Donahue
Sean Donahue 3 weeks

Hopefully we can rebound after the pandemic

Auro
Auro 3 weeks

Why do news outlets couch government spending language on this way? It perpetuates the deficit myth for countries that have their own fiat currency.

Its_Syxx
Its_Syxx 3 weeks

In other news, pandemic currently and wasn't one with Obama. Wow.

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