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Treasury will borrow in 2nd qtr
The Treasury expects to borrow money during the April-June quarter, when it often is flush with cash from people's tax payments. The projected $1 bil in borrowing marks a sharp reverse from the $89 bil paydown of debt it projected in January. It's the first time since 1995 that the government had to borrow in the April-June quarter.
Bush spending cuts hit stone wall
The White House suggested $5.2 bil in savings from federal student loans and other programs to ease a crunch. But most of the ideas are going nowhere on Capitol Hill. The student-loan plan ran into trouble from both Democrats and Republicans. Critics say it …