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Treasury Slashes Quarterly Borrowing Estimate to $617 Billion

  • Treasury keeps $800 billion cash-balance target for Dec.
  • Fourth-quarter borrowing slashed amid impasse over stimulus

The U.S. Treasury roughly halved its borrowing estimate for the final three months of the year, to $617 billion, after the fiscal stimulus that in August seemed imminent didn’t pan out.

The figure, released in Washington Monday, is $599 billion lower than the Treasury projected in August, when it expected to borrow $1.216 trillion in net marketable debt over the quarter. Since then, Washington policy makers have failed to agree on a new economic support package. The fate of future measures will likely depend now on the results of the Nov. 3 presidential and congressional elections.