US to hit Debt Limit December 31. Extraordinary measures begun

12/28/2012 2:17 PM | Anonymous
The U.S. government will hit the $16.4 trillion federal debt limit Monday and turn to “extraordinary measures” to continue borrowing, the Treasury Department said Wednesday, beginning a countdown until Congress either passes legislation to allow for more borrowing or the government defaults on its debt.

In a letter to Congress, Treasury Secretary Timothy F. Geithner said that although the debt ceiling would be reached Dec. 31, the government could buy roughly two months’ more time before it would be unable to meet all its obligations.


CONTACT US - WE LOVE TO HEAR FROM YOU!!!

FLTA 

PO Box 66145

St Pete Beach, FL 33736

Email Executive Director Alexandra Overhoff

Email Executive Assistant Jena Daly

850-270-8648

Powered by Wild Apricot Membership Software