Treasury says plans to borrow $1.02 trillion this quarter

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) — The Treasury Department says it plans to borrow $1.02 trillion during the current quarter. That’s the largest amount since the government began passing trillion-dollar rescue packages for the economy in the spring of 2020. The department announced Monday that the $1.02 trillion borrowing estimate for the October-December quarter would follow $103 billion in actual borrowing in the previous July-September quarter. That was a period when the debt limit went back into effect after being suspended for two years. Treasury officials say they expect to borrow another $476 billion in next year’s January-March quarter.