An unexpected 10% in the deficit

The U.S. Treasury borrowed $488 billion from January through March, a record high for the quarter, as the department increased its cash buffer and prepares for widening budget deficits.During the first three months of this year, the department borrowed about $47 billion more than it had previously estimated, according to a statement released Monday in Washington. The end-of-March cash balance was $290 billion, compared with an initial estimate of $210 billion.

 Most of that deficit covered the rise in interest charges. This seems close to a trillion dollar deficit this year.