U.S. Borrowing Needs Hit 7-Year Low on Stronger Growth

The U.S. Treasury said its borrowing needs this quarter fell to the lowest level for the period since 2007 as a stronger economy boosts tax revenue.

The U.S. plans to borrow $192 billion in the July-September period, about $22 billion more than it projected three months ago, with an end-of-September cash balance of $150 billion, the Treasury said yesterday in Washington. Next quarter, the Treasury plans to borrow $187 billion, with $140 billion in cash Dec. 31.