WASHINGTON (MNI) – The following is a statement by the U.S.
Treasury Department Wednesday:
Today, Mary Miller, Assistant Secretary for Financial Markets at
the U.S. Department of the Treasury, issued the following statement
reaffirming the projected date on which the United States will exhaust
borrowing authority under the statutory debt limit. Treasury has
committed to providing Congress with updates each month of when
extraordinary measures taken to keep the nation from defaulting will be
exhausted.
“On the basis of careful analysis of actual and projected revenues
and expenditures, the Treasury Department continues to project that the
United States will exhaust its borrowing authority under the debt limit
on August 2, 2011. Secretary Geithner continues to urge Congress to
avoid the catastrophic economic and market consequences of a default
crisis by raising the statutory debt limit in a timely manner.”
** Market News International Washington Bureau: 202-371-2121 **
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