U.S. Treasury takes new step to avoid debt limit
Posted: Mon Dec 31, 2012 3:33 pmU.S. Treasury takes new step to avoid debt limit
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) - Treasury Secretary Tim Geithner said late Monday that he was suspending investment in the Civil Service Retirement and Disability Fund in a effort to delay the day the government will exceed its $16.4 trillion legal borrowing authority. This is one of the series of measures that Geithner said last week would help put off hitting the debt ceiling until late February or early March. Without the actions, the government would have hit the debt limit Monday. Geithner's disclosure came in a letter to congressional leaders. He said that Federal retirees and employees will be unaffected by the actions.
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) - Treasury Secretary Tim Geithner said late Monday that he was suspending investment in the Civil Service Retirement and Disability Fund in a effort to delay the day the government will exceed its $16.4 trillion legal borrowing authority. This is one of the series of measures that Geithner said last week would help put off hitting the debt ceiling until late February or early March. Without the actions, the government would have hit the debt limit Monday. Geithner's disclosure came in a letter to congressional leaders. He said that Federal retirees and employees will be unaffected by the actions.