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US Treasury Announces $72bn Debt Auction

Service : Economy
TEHRAN, May 9 (ICANA) – The Treasury Department says it will proceed with a $72 billion auction of new debt next week, the final quarterly auctions until Congress raises the government's borrowing limit.
Monday, May 09, 2011 6:53:23 PM
US Treasury Announces $72bn Debt Auction

Treasury officials say the government will hit its $14.3 trillion borrowing limit on May 16. The government conducts four major debt auctions each year to finance operations. But once it reaches the debt limit, it must suspend those auctions.

At that time, it will have to delay most debt sales or alter the scope if the government has yet to raise the borrowing limit. Winnipeg Free Press

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