Geithner Sees Debt Ceiling Breached in February or March
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)
Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time.