The government expects to borrow a record $171 billion in the January-to-March quarter, reflecting in part higher spending to cover rebuilding costs from the hurricanes that ravaged the Gulf Coast.

The estimate, released Monday by the Treasury Department, comes as the department considers the government’s financing needs, something it does on a quarterly basis.

Treasury needs to borrow to finance the daily operations of the government, including meeting interest payments on the national debt, which now stands at around $7.96 trillion.

If Treasury actually ends up borrowing $171 billion in the January-to-March quarter, it would mark the most borrowing ever for any quarter. The quarterly borrowing record – $146 billion – was reached in the January-to-March quarter of 2004.