Treasury Department Expects to Borrow $2 Trillion Over Second Half of 2020

Yuval Rosenberg
·1-min read

The Treasury Department said Monday that it expects to borrow another $2 trillion over the second half of this year, including $947 billion from July through September and $1.216 trillion from October through December. Those estimates would raise total borrowing for fiscal year 2020, which runs through September, to $4.5 trillion, more than triple last year’s level. The estimates also assume that Congress will pass another round of coronavirus relief requiring $1 trillion in additional borrowing through the end of the calendar year.

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