US Treasury to ‘Borrow’ $3 Trillion for a Single Quarter – Anticipates Taking Billions M…

On Monday, the United States Department of the Treasury announced it will be “borrowing” a record $3 trillion to help support the American economy. The move comes after the Federal Reserve dished out over $6 trillion to private dealers before the first U.S. Covid-19 death, and the $1.5 trillion added to the nation’s debt since March 1.

The Treasury Takes Out $3 Trillion for the ‘Increase in Privately-Held Net Marketable Borrowing’

It seems the coronavirus outbreak is an ominous excuse to continue massive stimulus handouts. On Monday, May 4, 2020, the U.S. Treasury explained that it would “borrow” $3 trillion, in order to combat the economy distraught by the industry shutdowns. In addition to the borrowing of approximately $2.999 trillion, the Treasury also plans to backstop a number of lending schemes for the central bank. The Treasury has been working in lockstep with the Federal Reserve during the last two months with the various stimulus programs like the CARES Act.