US Treasury to hit debt ceiling on Monday
The US Treasury will hit its $16.4 trillion borrowing ceiling on Monday, a Treasury official said, adding that new measures to keep the nation from defaulting on its debt are being launched.
Separately, Treasury Secretary Timothy Geithner said in a letter to congressional leaders that the government would suspend some investments in pension and health benefit funds for federal workers beginning on Monday to free up borrowing authority. The suspension of the investments is part of a series of measures announced last week to keep the country from defaulting on its debt. (Reuters)
