WASHINGTON– The U.S. federal government expects to borrow a record $4.5 trillion this fiscal year as it steps up spending to battle what is most likely to be the inmost economic recession since the Great Depression.
The borrowing is required to cover a fast-growing budget deficit as organisations close and countless Americans lose their tasks, squeezing federal government tax revenue, and as Congress licenses trillions of dollars in emergency situation relief for employees, services and hospitals amidst the coronavirus pandemic.
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%%.
source https://jobsearchtips.net/treasury-expects-to-borrow-4-5-trillion-in-fiscal-year-as-bailout-spending-soars/
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