In 60 Seconds

What is the Treasury doing in the wake of the coronavirus pandemic?

So, as you saw, the Treasury Department announced on Monday that they're going to be borrowing $3 trillion in order to help pay for some of the initiatives around the coronavirus pandemic. That's just in the second quarter alone. In the third quarter, they're going to borrow an additional $677 billion. The Congressional Budget Office, the CBO, predicts that the federal budget deficit is going to hit a record $3.7 trillion this year alone.