Treasury: No asset ‘fire sale’ to postpone debt-limit hike
Treasury recently projected that Aug. 2 was the deadline for Congress to raise the $14.3 trillion debt limit. The U.S. is scheduled to hit the ceiling the middle of this month, but Treasury has already started using some of the extraordinary measures it has available to give Congress more of a cushion.
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In her post, Miller quoted former Treasury Secretaries Jim Baker, a Republican, and Robert Rubin, a Democrat, as calling a sale of gold reserves a bad idea.
The New York Times reported last week that asset sales and other measures could help the government delay a crisis for even a few months after Aug. 2.
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