Treasury Secretary John W. Snow said yesterday that the United States could be unable to pay its bills in early 2006 unless Congress raises the government's borrowing authority, which is now capped at $8.18 trillion.
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"At that time, unless the debt limit is raised or the Treasury Department takes authorized extraordinary actions, we will be unable to continue to finance government operations," Snow wrote.
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Good thing we tightened up the bankruptcy regulations, huh?
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