WASHINGTON (Sputnik) — Four days after President Barack Obama and the Congress agreed on a budget over the next two years, the US government has started adding to the national debt at a faster rate than it promised, the Department of the Treasury said in a press release on Monday.
"During the October — December 2015 quarter, Treasury expects to issue $344 billion in net marketable debt, assuming an end-of-December cash balance of $325 billion," the release stated. "This borrowing estimate is $74 billion higher than announced in August 2015."
During the January — March 2016 quarter, the release noted, the Treasury Department said it expects to borrow $165 billion in net marketable debt, assuming an end-of-March cash balance of $260 billion.
The modest net increase in borrowing was driven by an increase in financing needs partially offset by a lower ending cash balance, according to the Treasury Department.
