Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline

8/3/21
 
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from CNBC,
8/2/21:

The Treasury Department will begin conducting emergency cash-conservation steps.

Economists say those so-called extraordinary measures will allow Treasury to pay off the government’s bills without issuing new debt for up to three months.

That should buy Congress enough time to raise or suspend the debt ceiling. The alternative would be a never-before-seen default on U.S. debt.

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