Geithner - US To Hit Debt Ceiling On December 31
December 26, 2012 - 4:23pm
Just because the Fiscal Cliff was not enough... GEITHNER SAYS U.S. WILL REACH STATUTORY DEBT LIMIT ON DEC. 31 GEITHNER: WILL USE `EXTRAORDINARY MEASURES' TO AVOID DEBT LIMIT TREASURY: SPECIAL MEASURES TO MAKE $200 BLN ROOM UNDER LIMIT GEITHNER: $200 BLN TO LAST TWO MONTHS IN `NORMAL CIRCUMSTANCES' GEITHNER: TAX, SPENDING `UNCERTAINTY' MAKES DURATION NOT CLEAR GEITHNER SAYS ALL MEASURES HAVE BEEN USED IN PRIOR IMPASSES GEITHNER OUTLINES PLANS IN LETTER TO SENATE MAJORITY LEADER So since America's dysfunctional congress failed to "rise above" the Fiscal Cliff, it at least succeeded to "rise above" the debt ceiling. One out of two is not too bad... To summarize: debt ceiling hit December 31, just in time for the no deal on the Fiscal Cliff, and then the Treasury will proceed to defund various Government retirement accounts for the next two and a half months, when sometime in March t...
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