US authorities plan to borrow a record amount of money

In the second quarter of this year, the US Treasury plans to borrow $ 2.99 trillion to support the economy. This amount in 5 times the amount of borrowed funds during the 2008 crisis, writes The Wall Street Journal. Last year volume government loans in the United States was equal to 1.28 trillion. The Treasury Department also announced yesterday that in the near future it may issue government bonds worth $ 3.7 trillion. The issue is planned to be carried out before end of September - the time of completion of the second financial half a year. Taking this into account, the total amount of issued government bonds in 2020 fiscal year will be $ 4.5 trillion, the WSJ notes. The total amount of funds allocated by the US authorities for supporting the American economy during the coronavirus pandemic, amounted to more than $ 2.5 trillion. First, a support package was approved for $ 2-plus trillion, followed by an additional $ 500 billion in April. The amount of support in the first financial half of the year may reach $ 5 trillion