Buddy, could you spare us a dime?

Government needs $550 billion this quarter

WASHINGTON - The government will borrow a record $550 billion in the current quarter as it scrambles to fund the huge rescue programs being put in place to deal with the worst financial crisis in seven decades.

The Treasury Department said Monday it plans to borrow more than a half-trillion dollars in the current October-December quarter and another $368 billion in the first three months of next year.

Major Wall Street bond traders estimate the government's borrowing needs for the whole year will total an unprecedented $1.4 trillion.

http://www.msnbc.msn.com/id/27522855/