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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (19396)	10/4/2004 4:57:33 PM
From: ild	Read Replies (1) \| Respond to of 110194

WASHINGTON, Oct 4 (Reuters) - The U.S. Treasury Department still expects to hit its legally permitted ceiling for borrowing early this month and still is urging Congress to act to raise it, a Treasury spokesman said on Monday. "The time-frame is October, early October. We'll obviously notify Congress at the appropriate time," Assistant Treasury Secretary Rob Nichols told reporters. "Right before we hit it, we will notify Congress. That forecast is made on a day-to-day basis," Nichols added. He suggested Treasury could avoid piercing the debt ceiling -- which would represent a default on the government's ability to manage its debt -- until about mid-November by using extraordinary measures like tapping Treasury funds that are intended for purposes like currency stabilization.