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

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.

Why does the U.S. Treasury need to borrow $2.999 trillion in the April to June fiscal quarter?

• To fund federal relief efforts and cover revenue shortages due to a delayed tax deadline.

• To increase military spending.

• To invest in infrastructure projects.

• To pay off previous debts.

How does the current borrowing amount compare to the 2008 financial crisis?

• It is more than five times larger than the 2008 borrowing.

• It is exactly double the 2008 borrowing.

• It is about the same as the 2008 borrowing.

• It is less than the 2008 borrowing.

What is the total borrowing amount for the entire previous year compared to the current quarter?

• It is more than the current quarter.

• It is three times the current quarter.

• It is less than the current quarter.

• It is equal to the current quarter.

What is the expected borrowing amount for the July to September quarter?

• $2.999 trillion

• $677 billion

• $1 trillion

• $500 billion

What is the main reason for the additional borrowing in the upcoming quarter?

• To fund new infrastructure projects.

• To increase military spending.

• To continue supporting federal relief efforts.

• To pay off international debts.