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WASHINGTON (AP) - The Treasury Department now expects to hit the government's debt limit in December, two months later than its initial estimate, after scaling back an emergency loan program as the financial crisis abated.
Treasury Department officials said Wednesday they're working closely with Congress to pass the legislation needed to boost the debt ceiling, currently at $12.1 trillion, and avoid an unprecedented default on the nation's debt obligations.
Treasury also announced it is ending sales of 20-year inflation-protected securities and will offer similar 30-year securities starting next year. The government believes the longer maturity option will be more popular with investors.
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