The Treasury Department has announced that they will need to borrow $2.99 trillion in order to cover the costs of coronavirus relief efforts between April and June. They have commented that the nearly three trillion dollars would go to programs such as Paycheck Protection Program, direct electronic payments, and for small business relief. It will also help cover the delayed tax revenue as the deadline to turn in your taxes has been extended to June. In the 2008 financial crisis, the Treasury Department only borrowed $530 billion for the July-September quarter. Also, they borrowed $1.28 trillion for the entire bond market for all of 2019.