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U.S. to Hit Debt Limit in Late February
Time: Treasury Secretary Jack Lew has told Congress the U.S. will run out of accounting gimmicks to keep financing the government in late February, setting the stage for another debt-ceiling standoff slightly earlier than expected.
“When I previously wrote to you in December, I estimated that Treasury would exhaust extraordinary measures in late February or early March,” Lew wrote in a letter to lawmakers released on Wednesday afternoon. “Based on our best and most recent information, we believe that Treasury is more likely to exhaust those measures in late February.”
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