Treasury says nation will hit debt limit in mid-October

WASHINGTON • Treasury Secretary Jacob Lew is telling Congress that the U.S. government will hit its borrowing limit in mid-October and urged lawmakers to raise it before then. Lew said in a letter to Speaker John Boehner released Monday that the government is running out of accounting maneuvers it has used to avoid hitting the $16.7 trillion borrowing limit. He pressed Congress to act so Treasury can keep paying the government’s bills. Lew said it’s impossible for Treasury to predict exactly whe...

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