The government's estimate of how much it expects to borrow from the credit markets this quarter has risen by a third to compensate for lower than expected income-tax payments and higher spending, the Treasury Department said Monday.
Treasury's latest $104 billion borrowing projection for the July-September quarter is larger than a previous estimate of $76 billion made in April.
The new projection would represent the largest amount ever borrowed during the July-September quarter.
A billion here, a billion there— pretty soon you're talking real money!