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The Treasury Department is detailing how it plans to borrow a record-breaking $2.99 trillion in debt this quarter which will.

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The amount is more than five times the government’s previous record borrowing for a quarter, $569 billion, set in the depths.

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Therefore, the economic cost of the first two months spent fighting the pandemic will be $2.14 trillion (10 percent), which is surprisingly close to.

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Ignore economists at your peril.

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The Treasury secretary told CNBC the administration is unfazed with the historic levels of government spending thanks to the.