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Government Trims Borrowing Estimate For This Year

Monday, August 2, 2010 - 7:52 PM
Treasury said Monday that it now expects to borrow $1.438 trillion this year, still the second-highest amount in history. But that is down by 19.5 percent from last year's all-time record in borrowing of $1.786 trillion.

Treasury also gave a preliminary estimate that it will need to borrow $372 billion in the October-December period. That would be up from $260 billion borrowed in the same period a year ago. However, that figure was artificially lowered as Treasury maneuvered to keep from breaching the government's debt limit, giving Congress time to raise the figure. The debt limit now stands at $14.29 trillion.

MikeMike327 posts since
Feb 22, 2010
Rep Points: 876