The Treasury Department predicted in a report Monday that the government’s borrowing needs for the second half of 2018 will be $769 billion — the highest its borrowed since 2008 during the financial crisis.
Bloomberg reports that the Treasury foresees issuing $329 billion in net marketable debt between July and the end of September, and $440 billion between October and the end of the year. The total $769 billion comes in at the highest borrowing estimate since $1.1 trillion between July and December of 2008 in the middle of the financial crisis.
On the bright side, President Trump at the White House on Friday noted that the country is growing “at the amazing rate” and that “we’re on track to hit the highest annual average growth rate in over 13 years.”
Read more at The Hill.