US can pay bills until early March: Treasury
Quotes

US can pay bills until early March: Treasury

Last Updated: Friday, December 20, 2013, 07:51
 
 Comment 0
 
US can pay bills until early March: Treasury
Washington: The United States will run out of money to pay its bills by early March if Congress does not raise the nation`s borrowing limit, Treasury Secretary Jacob Lew said Thursday.

In a letter to Congress, Lew urged lawmakers to take "prompt action" to once again extend the debt limit, after the legislature extended it in October through February 7, amid fears the world`s largest economy could default on its debt.

When the extension expires on February 7, the United States will hit the debt limit again, he said.

"At that time, in the absence of Congressional action, Treasury would be forced to take extraordinary measures to continue to finance the government on a temporary basis," Lew wrote.

The Treasury currently estimates that by using those measures, "we would be able to extend the nation`s borrowing authority only until late February or early March 2014."



AFP

First Published: Friday, December 20, 2013, 07:51


Comments


comments powered by Disqus
India`s top ten billionaires
India`s top ten billionaires
Pradhan Mantri Jan Dhan Yojana - In Pics
Pradhan Mantri Jan Dhan Yojana - In Pics
Apple Smartwatch unveiled
Apple Smartwatch unveiled
Apple iPhone 6, iPhone 6 plus
Apple iPhone 6, iPhone 6 plus
Samsung Galaxy Tab 4 Nook
Samsung Galaxy Tab 4 Nook

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved