The U.S. government will exhaust its borrowing authority between mid-February and early March if Congress doesn’t raise the debt ceiling, outgoing Treasury Secretary Timothy Geithner told Congress in a letter today.
The nation nudged against the $16.4 trillion debt ceiling just before the New Year. Geithner has since been using accounting maneuvers — known as “extraordinary measures” — to keep the nation from missing its debt payments and other bills.
Source: Politico. Read full article. (link)