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.

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