US to Hit Debt Limit Oct. 18

So, time to start that fight up again


The U.S. Treasury will run short of cash to pay the nation's bills as soon as Oct. 18 unless Congress agrees to raise the federal debt limit, according to an independent analysis of projected cash flow released Tuesday.

While the Treasury may be able to stretch available funds into early November, the report by the Bipartisan Policy Center found, lawmakers would risk causing chaos in world financial markets if they waited that long to act, its authors warned.