Treasury says debt limit will be hit by late 2012

WASHINGTON (AP) -- U.S. Treasury officials say they still expect the government will hit the current debt borrowing limit at the end of this year. But they say they can employ "extraordinary" measures that they have used in the past to keep the government functioning until sometime early next year.

In a statement, Treasury Assistant Secretary Matthew Rutherford said that Treasury would employ the same types of procedures it has used in the past to keep borrowing under the current debt limit of $16.39 trillion. The nation's debt currently stands $16.16 trillion.

The United States has never failed to meet its debt obligations although the last battle over raising the debt limit in August 2011 went right to the last minute before a compromise was reached between the Obama administration and Congress.


The comment sections of our web set are designed for thoughtful, intelligent conversation and debate. We want to hear from the viewers but we are not obligated to post comments we feel inappropriate or violate our guidelines. Here are some of the criteria you should follow when posting comments:

Comments cannot be profane or vulgar. Children and families visit this site. We will delete comments that use profanity or cross the lines of good taste.

We will delete all comments using hate speech. Slurs, stereotypes and violent talk aren’t welcome on our web site.

Comments should not attack other readers personally.

We will delete comments we deem offensive, in bad taste, or out of bounds. We are not obligated to post comments that are rude or insensitive.

We do not edit user-submitted comments.

As a host WEAU 13 News welcomes a wide spectrum of opinions. However, we have a responsibility to all our readers to try to keep our comment section fair and decent. For that reason WEAU 13 News reserves the right to not post or to remove any comment.
powered by Disqus
WEAU 13 NEWS 1907 S. Hastings Way Eau Claire, WI 54701 By Phone: Main Number (715) 835-1313 and (715) 832-3474. Tip Line (715) 839-WEAU - (715) 839-9328 Sports Line (715) 852-1537
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 176586071 - weau.com/a?a=176586071
Gray Television, Inc.