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Friday, May 20, 2011

Debt Ceiling

"Now that the government has reached its debt limit, the Treasury is set to engage various temporary measures to tread water until August 2.... The next round of these measures -- in which the government liquidates certain investments of a pension fund and blocks other funds from new investment -- is set to commence Monday."

U.S. Reaches Debt Limit, Geithner Warns Of Dire Consequences

"The federal government reached its debt limit Monday, and Treasury Secretary Tim Geithner again detailed the disastrous and widespread consequences of Congressional inaction."


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