Voice of America: US: No Immediate Cash Shortage If Borrowing Limit Not Increased

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

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US: No Immediate Cash Shortage If Borrowing Limit Not Increased Oct 16th 2013, 15:04, by webdesk@voanews.com (VOA News) The U.S. says it would not immediately run out of cash if Congress fails to increase the country's $16.7 trillion borrowing limit to avoid a default, but would within days. Unless Congress acts Wednesday to increase the debt ceiling, the government will run out of borrowing authority on Thursday to raise more money to pay its bills, including interest on U.S. securities held by China, Japan and other overseas investors. The government says it has about $30 billion on hand, and some ... Media files: 32EECC7C-D3F8-4450-B0A7-643417472793_cx0_cy0_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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