Treasury Lowers July-September Borrowing Need to $350 Billion
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The U.S. Treasury Department lowered its estimate for government borrowing from July through September, reflecting a reduction in federal spending.
Borrowing will total a net $350 billion in the current quarter, compared with an estimate three months ago of $376 billion, the department said in a statement today in Washington. The Treasury also projected borrowing of $380 billion in the three months to Dec. 31.