US to reach debt limit on New Years Eve
AFP
12/26/2012 9:31:56 PM
The United States federal government will reach its statutory debt limit -- as imposed by Congress -- on December 31, Treasury Secretary Timothy Geithner said Wednesday.
In a letter to the top Democrat in Congress, Geithner said the Treasury will shortly begin taking extraordinary measures to "temporarily postpone the date that the United States would otherwise default on its legal obligations."