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U.S. Treasury Secretary asks Congress to lift debt ceiling

Xinhua,January 09, 2018 Adjust font size:

WASHINGTON, Jan. 8 (Xinhua) -- U.S. Treasury Secretary Steven Mnuchin has asked Congress to raise the federal government's debt ceiling by the end of February, a Bloomberg News report said on Monday, quoting two unnamed sources.

The debt limit suspension expired on Dec. 8, 2017 and the debt limit was reinstated at roughly 20.4 trillion U.S. dollars.

Mnuchin has said that the Treasury Department could use extraordinary measures to fund the federal government at least through January within the 20.4-trillion-dollar debt limit.

Bipartisan Policy Center, a non-partisan think tank in Washington D.C., forecasted that the federal government will run out of cash and face debt default risk in March this year.

Congress may seek to raise the debt ceiling in February by attaching the measure to a government spending bill, the Bloomberg News report said. Enditem

 

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