Treasury sees $2 trillion in borrowing over the rest of the year

MarketWatch/Greg Robb

grapic image of towering debt skyscraper reaching for the stars“The U.S. Treasury Department said Monday it expects to borrow $2 trillion over the rest of the year as the federal government takes on debt to finance the response to the coronavirus pandemic.”

USAGOLD note:  That $2 trillion is on top of the roughly $3 trillion it has already borrowed this year.  We can remember a time when Wall Street blanched at trillion-dollar deficits. Now we are talking $5 trillion in red ink in a single year!  And Wall Street no doubt will judiciously look the other way ……

Repost from 8-5-2020

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