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Old 10-02-2013, 07:57 AM   #53

Join Date: Sep 2002
Posts: 17,320

Here we go again............

WASHINGTON (MarketWatch) -- Treasury Secretary Jacob Lew reiterated Tuesday that the goverment's extraordinary measures to stay below the $16.7 trillion debt limit will expire on Oct. 17. In a letter to bipartisan leaders in Congress, Lew said that the government shutdown will not extend the deadline that he first estimated late last month "unless it continues for an extended period of time." Lew said his agency is now using its final extraordinary measures to ward off the debt ceiling. Lew repeated that Treasury would have $30 billion in cash on hand on Oct. 17, and would be at risk of not being able to pay its bills. "If we have insufficient cash on hand, it would be impossible for the United States of America to meet all of its obligations for the first time in our history," he said.
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