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U.S. Debt Ceiling To Bind By Late February: Treasury

The Obama administration warned Congress on Wednesday that the government would likely run out of borrowing authority needed to help pay its bills by late February if lawmakers do ... More The Obama administration warned Congress on Wednesday that the government would likely run out of borrowing authority needed to help pay its bills by late February if lawmakers do not swiftly raise the federal debt ceiling. Previously, the administration had projected the borrowing authority could last until as late as early March, but the Treasury Department said it now believed Congress had a more narrow window in which to act. Congress passed a two-year budget deal in December to avert some spending cuts planned for next year, and the pact reduces the risk of a government shutdown. Less

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