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POLITICO Breaking News

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Thu, 27 Dec 12 2:20 AM | 58 view(s)
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Treasury Secretary Tim Geithner told Congress in a letter on Wednesday that the nation will hit its statutory borrowing limit on Dec. 31 and Treasury will have to begin "extraordinary measures" to fund the government until the debt ceiling is lifted by Congress. Treasury expects it can avoid default through such measures at least a few week into next year but notes that doing so could be made more difficult if no deal is made to avoid the fiscal cliff.

For more information... http://www.politico.com




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