'On Wednesday, Geithner said in a letter to
Congress that on December 31 the government will reach its statutory
16.39-trillion-dollar debt limit, which is a ceiling imposed by
Congress, AFP reported.
"I am writing to inform you that the statutory debt limit will be reached on December 31, 2012," Geithner said in the letter, adding that the Treasury Department will soon take “extraordinary measures” to stave off default.
“The Treasury Department will shortly begin taking certain extraordinary measures authorized by law to temporarily postpone the date that the United States would otherwise default on its legal obligations," Geithner said.'
"I am writing to inform you that the statutory debt limit will be reached on December 31, 2012," Geithner said in the letter, adding that the Treasury Department will soon take “extraordinary measures” to stave off default.
“The Treasury Department will shortly begin taking certain extraordinary measures authorized by law to temporarily postpone the date that the United States would otherwise default on its legal obligations," Geithner said.'
