US Treasury projects record third quarter borrowing of $947 billion

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WASHINGTON (AP) — The Treasury Department is projecting government borrowing of $947 billion in the current July-September period, which would be a record for the quarter but down from the all-time high of $2.75 trillion in this year’s second quarter.

Treasury officials announced Monday that the government also plans to borrow $1.22 trillion in the October-December period. The amounts include $1 trillion in expected borrowing to finance another economic stimulus package, which at the moment is tied up in negotiations between Democrats and Republicans.

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