US Treasury Boosts Quarterly Borrowing Estimate to $1 Trillion
- Department had previously estimated $733 billion for quarter
- Treasury still restocking cash balance after debt-limit fight
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The US Treasury boosted its estimate for federal borrowing for the current quarter as it addresses a deteriorating fiscal deficit and keeps replenishing its cash buffer.
The Treasury Department increased its net borrowing estimate for the July through September quarter to $1 trillion, well up from the $733 billion amount it had predicted in early May.