Mon, May 28, 2012, 8:17 PM EDT - U.S. Markets closed for Memorial Day

Treasury estimates borrowing need of $444 billion

Treasury plans to borrow $444 billion in current January-March quarter

By Martin Crutsinger, AP Economics Writer | Associated Press – Mon, Jan 30, 2012 7:08 PM EST

WASHINGTON (AP) -- The Treasury Department is seeking to borrow $444 billion in the current quarter through March.

The latest estimate of borrowing plans for the January-March period would make this quarter the fifth highest in terms of government borrowing. Borrowing needs have surged as the government has had to fund record budget deficits.

The borrowing this quarter is $97 billion lower than the government initially indicated it would need. Treasury said Monday that improved tax receipts and lower expected spending were among the reasons for the reduced figure.

Senate Democrats were able to block a Republican move last week to halt the latest increase in the debt ceiling. The borrowing limit rose by $1.2 trillion to $16.4 trillion.

 

10 comments

  • sherrill
    sherrill  •  Stockton, California  •  3 months ago
    You can not rob Paul to pay Peter. In other words you cant keep robbing the tax payers we are broke also.
  • david
    david  •  3 months ago
    Remeber...OBAMA wants to send ILLEGALS to College for FREE
    ****
    In the middle of all this...Obama = INSANE Vote Buying, OBAMA = Anti American
  • William
    William  •  3 months ago
    Another $1,500 borrowed for EVERY MAN,WOMAN AND CHILD in the USA...just for Jan to March. Did you and your family get YOUR $1,500 EACH? No, I didn't either. But somebody got the money.
  • james
    james  •  Colorado Springs, Colorado  •  3 months ago
    keep it up people, keep on voting for republican or demorcat and we will keep on going down this road to ruin.
  • Halfrad
    Halfrad  •  3 months ago
    I think everybody should be firing up their printers. mine works at least as good as the governments,while I'm at it I will change my name to FED just to keep it all legal
  • Bear
    Bear  •  Waldorf, Maryland  •  3 months ago
    Ever wonder who checks their income to debt ratio?
  • Robert
    Robert  •  Houston, Texas  •  3 months ago
    how hard is to cut spending? I would take a millon dollar loan I can pay pennys on the dollar back till I die. Somebody take the checkbook! Checks are playing basketball
  • Janie in TX
    Janie in TX  •  3 months ago
    "Senate Democrats were able to block a Republican move last week to halt the latest increase in the debt ceiling. The borrowing limit rose by $1.2 trillion to $16.4 trillion. " Proof that the Dems are the ones sending us into a debt we will never get out of.
    • Bart
      Bart 3 months ago
      Thats a Fact Janie
  • Zebra
    Zebra  •  Mt Hamilton, California  •  3 months ago
    Republicans love to go to war. So who pays for the wars? We borrow the money. That's why the debt is so high. What an incredible waste.
    • Jarrod
      Jarrod 3 months ago
      Bush spent $5.8 trillion in his 8 years as president.... Obama has spent nearly $4 trillion in 3 years??? Um what am I missing Zebra?
  • AL
    AL  •  3 months ago
    barrow barrow barrow, that`s all they frick`in do...it needs to stop NOW!!!!!!!!!!!

    Ron Paul, or this will NEVER stop until we get cut off, and all heck is going to break loose!!!!..
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