Geithner: Gov't could pass debt limit by mid-Feb.
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Source: Business News
Originally published: Jan 14, 2013 - 2:59 pm
Originally published: Jan 14, 2013 - 2:59 pm
AP Economic Writer
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
WASHINGTON (AP) - Treasury Secretary Timothy Geithner is telling congressional leaders that the U.S. government will exhaust its borrowing limit as soon as mid-February, earlier than expected.
The government reached its $16.4 trillion borrowing limit on Dec. 31, but began using bookkeeping maneuvers to keep from surpassing it. In a letter to congressional leaders on Monday, Geithner says Treasury expects to exhaust those measures by mid-February to early March.
Geithner said he would provide a more precise estimate of when the government will reach that threshold once it moves closer to the deadline.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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