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The United States will reach its current debt
ceiling of 16.4 trillion dollars next week, Treasury Secretary
Timothy Geithner warned Wednesday in a letter to Congress.
The Treasury Department would however take extraordinary measures
to create 200 billion dollars in extra room to manouevre to keep the
US from defaulting on its obligations on Monday.
Geithner warned lawmakers to act to extend the debt limit, noting
that given the uncertainty of looming austerity measures due to take
effect at year's end that it was unclear how much extra time the
Treasury Department's efforts would allow. Under normal
circumstances, the moves would buy an additional two months before a
default, he said.
