Treasury: U.S. to Hit Debt Limit in April/May

The United States will hit a $14.3 trillion statutory limit on its debt slightly later than previously estimated, the Treasury said yesterday as it unveiled a still-hefty debt auction schedule, Reuters reported yesterday. Treasury officials said that the limit would now be hit between April 5 and May 31, versus a previous estimate of end-March to mid-May. The later time frame reflected an upward revision to estimates of tax receipts and a downward revision to projected borrowing from the Social Security and Medicare trust funds. The officials said that they were proceeding with borrowing plans under the assumption Congress will raise the limit without a protracted battle, an assumption financial markets share.


http://www.reuters.com/article/2011/02/02/us-usa-debt-limit-idUSTRE7118FT20110202?feedType=RSS&feedName=businessNews