U.S. More Than Doubles Borrowing Estimate on Debt-Limit Lifting
Pedestrians walk near the U.S. Treasury building in Washington.
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The U.S. Treasury Department said it plans to borrow more than twice as much as previously anticipated in the third quarter, assuming lawmakers free up spending by lifting the debt ceiling.
The department expects to issue $433 billion in net marketable debt from July through September, $274 billion more than it estimated in April, according to a statement released Monday in Washington. The Treasury sees an end-of-September cash balance of $350 billion, up from from its forecast three months ago.