Treasury Has Tools to Push 2014 Debt-Limit Deadline Past Feb. 7
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The Treasury Department emerged from the fiscal fight in Congress with tools intact that will allow the U.S. to stay under the debt limit for a month or more after the ceiling is reinstated Feb. 7, budget analysts said.
President Barack Obama signed legislation today that reopened the government and allows the Treasury to sell bills, notes and bonds without exceeding the borrowing cap, which was $16.7 trillion before the new law suspended it until Feb. 7. After that, the department can avoid a breach by using accounting maneuvers, which some analysts say can provide about $200 billion to help fund operations until income-tax revenue arrives before the mid-April filing deadline.