US may hit debt limit in October, warns Treasury Secretary

Washington: Treasury Secretary Janet Yellen is warning Congress that she will run out of maneuvering room to prevent the U.S. from broaching the government’s borrowing limit in October.

In a letter to congressional leaders on Wednesday, Yellen said that she still could not provide a specific date for when she will no longer be unable to keep the government funded absent action by Congress to raise the debt limit.

Based on our best and most recent information, the most likely outcome is that cash and extraordinary measures will be exhausted during the month of October, Yellen wrote.

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