Congress Faces Fall Deadline to Address Debt Ceiling
On Saturday, Treasury will begin using extraordinary measures to pay debts after reinstatement of limit
The clock starts ticking this weekend for Congress to reach a deal to raise the federal borrowing limit, or debt ceiling, before the government runs out of money to pay its bills sometime this fall.
Congress voted in February 2018 to suspend the borrowing limit for about a year. That limit is set to be reinstated Saturday, meaning the Treasury won’t be able to borrow more money until lawmakers suspend the ceiling again.
Treasury...