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Geithner Says U.S. Acts to Avoid Debt Limit Through Aug. 2

U.S. Treasury Secretary Timothy F. Geithner said he has taken actions to stave off the federal debt limit until Aug. 2, using accounting measures that involve two retirement funds.

Geithner wrote lawmakers today to say he has declared a “debt issuance suspension period,” a technical measure that allows him to free up borrowing room from the Civil Service Retirement and Disability Fund and the Government Securities Investment Fund. The steps, widely expected as Republicans and Democrats argue over when and how to raise the $14.3 trillion debt limit, won’t affect retirees or government operations.