Crime Today News
The US Treasury said on Monday it expects to borrow $514 billion in the second quarter, $391 billion higher than its February estimate, mainly due to a lower cash balance at the beginning of the quarter and projected lower net cash flows.
The second-quarter financing estimate assumes a cash balance of $850 billion at the end of June, the Treasury said in a statement. Excluding the lower-than-expected cash balance at the beginning of the quarter, the second quarter’s borrowing estimate is $53 billion lower than announced in February.
The Treasury also announced it expects to borrow $554 billion in the third quarter, assuming a cash balance of $850 billion at the end of September.
In the first quarter, the Treasury said it issued $369 billion in privately-held net marketable debt and ended that quarter with a cash balance of $406 billion.
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