July 14th, 2004, 04:40 PM
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#1
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Banned
Join Date: Jan 2003
Location: Long lonesome highway east of Omaha
Posts: 7,178
A$FN: 115
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U.S. Treasury Likely To Hit Debt Limit Before Election
The U.S. government will likely reach its federal debt limit in early October, a top Treasury official said in written remarks, giving fresh details on when the politically sensitive ceiling will need to be raised.
The $7.384 trillion debt limit may need attention before the November election, Timothy Bitsberger, Treasury's nominee for assistant secretary for financial markets, said in a document obtained by Reuters on Wednesday.
"It appears very likely the limit will be reached sometime in late September or October, with the most likely date being early October," Bitsberger said in the submission for the record after his Senate confirmation hearing last week.
"Treasury may be in a better position to narrow this range after completion of the mid-session review," he said in response to a question from Sen. Max Baucus of Montana, the ranking Democrat on the Senate Finance Committee.
http://channels.netscape.com/ns/news...&w=RTR&coview=
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