U.S. Sees Borrowing $1.4 Trillion in Second Half of 2021
- Numbers include assumption debt limit is suspended or raised
- Department projects cash balance of $750 billion in September
Photographer: Tom Brenner/Bloomberg
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The U.S. Treasury Department said the government will borrow almost $1.4 trillion in the second half assuming lawmakers raise or suspend the newly reinstated debt limit, as money continues to support coronavirus relief even before the impact of additional economic programs being considered by Congress.
The department expects to issue $673 billion in net marketable debt from July through September, $148 billion less than it estimated in May, according to a statement released Monday in Washington. The Treasury sees an end-of-September cash balance of $750 billion, unchanged from from its forecast three months ago.