[Edward64]

Hmmmm, pretty good news I guess. Of the $1.9T, we already have the $1T borrowed and ready to go, so only .9T net new.

How Trump’s team amassed a $1 trillion war chest for Biden to deploy - POLITICO

Republicans are bashing the new $1.9 trillion pandemic relief package for further ballooning the federal debt, but it’s the Trump administration that greased the path for a smooth federal spending spree.

The Treasury has a cash pile of well over $1 trillion, which will allow the government to quickly disburse money in line with the sweeping new law, including direct checks to millions of Americans that are expected to start hitting bank accounts in the coming week. That robust rainy-day fund was built last year by then-Treasury Secretary Steven Mnuchin, who preemptively cranked up the pace of government borrowing, unsure of how and when Congress might mandate further relief measures.
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So, despite concerns that markets will be flooded with new U.S. government debt to pay for the rescue package, the Treasury Department might not have to change its borrowing plans much at all to fund the legislation signed into law by President Joe Biden on Thursday.

“There are enormous implications for everyone else, but the Treasury was out in front of this nine months ago,” said Lou Crandall, chief economist at research firm Wrightson ICAP.
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Treasury always has to have enough cash on hand to fund immediate government spending obligations, which it keeps as deposits at the Federal Reserve. But those funds more than quadrupled in 2020. When Biden took office, Treasury’s deposits at the Fed stood at about $1.6 trillion, compared to $400 billion in 2019, and Treasury is expected to burn through about $1 trillion of that already-borrowed cash to help fund the relief package.

“That is $1 trillion of money that the Treasury does not have to borrow this year,” said Seth Carpenter, chief U.S. economist at UBS who served as a top debt-management official at Treasury under President Barack Obama.