News Alert: U.S. will hit debt limit on Dec. 31, Treasury says

Breaking News from The Washington Post
U.S. will hit debt limit on Dec. 31, Treasury says
The Washington Post Wednesday, December 26, 2012 4:29:55 PM

National News Alert

Advertisement

U.S. will hit debt limit on Dec. 31, Treasury says

The U.S. government will exhaust its borrowing authority on Dec. 31 and hit the $16.4 trillion federal debt limit, the Treasury Department said Wednesday, beginning a countdown until Congress either passes legislation to allow for more borrowing or the government defaults on its debt.

Treasury Secretary Timothy F. Geithner said in a letter to senior lawmakers that the Treasury would begin to undertake "extraordinary measures" in order to forestall default. Geithner said the measures could create about $200 billion in additional funding available to the government – giving Congress two months before it must raise the debt
limit.

Read more at:
http://www.washingtonpost.com/politics/us-will-hit-debt-limit-on-dec-31-treasury-department-says/2012/12/26/0e8e3738-4fa2-11e2-839d-d54cc6e49b63_story.html







Advertisement
johnmhames1.lightofdiogenes@blogger.com

Comments

Popular posts from this blog

FOLLOW THE MONEY - Billionaire tied to Epstein scandal funneled large donations to Ramaswamy & Democrats

Breaking: Left-Wing Black History Children’s Book Distributed by Simon & Schuster Is Heavily Plagiarized

Pence goes full swamp on Donald Trump.