US Treasury to take steps to avoid borrowing limit

The U.S. Treasury Department will begin taking steps on Friday to delay hitting the government's $16.4 trillion borrowing limit on Dec. 31.Treasury Secretary Timothy Geithner said in a letter Wednesday to congressional leaders that the department will use accounting measures to save approximately $200 billion. That could keep the government from reaching the limit for about two months.

Source: http://ml-implode.com/staticnews/2012-12-27_USTreasurytotakestepstoavoidborrowinglimit.html

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