The Trump administration says it expects to borrow $990 billion to fund the government in the budget year, the year of large increases in demands.
Even the Treasury Department on Monday projected that borrowing in the April-June quarter could total $30 billion. The quarter of this budget year, borrowing in the July-September time, may total $160 billion.
The 990 billion borrowing total for its 2019 budget would be down from $1.2 trillion borrowed in 2018. However, both the years are upward from 2017’s $519 billion in government borrowing.
The jump represents gains in the annual budget deficits, which the government says will likely top $ 1 trillion annually and stay through 2022 over $ 1 trillion.