BUSINESS

U.S. Wants Money — Trillions!

The United States is looking to borrow a record US$3 trillion in the second quarter of the year.

The country’s economy and budget have taken a battering because of the crisis brought on by COVID-19.

The sum is more than five times the previous quarterly record, set at the height of the 2008 financial crisis.

In all of 2019, the country borrowed US$1.28 trillion.

The U.S. has approved about US$3 trillion in virus-related relief, including health funding and direct payouts.

Total U.S. government debt is now near US$25 trillion.

Jenny Davy, Readers Bureau, Fellow

Edited by Jesus Chan

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