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Keyword: bookkeepingmaneuvers

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  • Treasury to tap pensions to help fund government

    05/16/2011 8:11:15 AM PDT · by SanFranDan · 39 replies
    Washington Post ^ | 5/16/11 | Zachary A. Goldfarb
    The Obama administration will begin to tap federal retiree programs to help fund operations after the government loses its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt. Treasury Secretary Timothy F. Geithner has warned for months that the government would soon hit the $14.3 trillion debt ceiling — a legal limit on how much it can borrow. With the government poised to reach that limit Monday, Geithner is undertaking special measures in an effort to postpone the day when he will no longer have enough funds...
  • Geithner secures more time to break US budget stalemate

    05/03/2011 2:16:20 AM PDT · by bruinbirdman · 13 replies
    BBC ^ | 5/3/2011
    US Treasury Secretary Timothy Geithner has secured more time for Congress to negotiate a deal to increase the borrowing limit of the US. Stalemate over the talks means the US risks defaulting on its debts because it will be unable to borrow beyond its $14.3 trillion (£8.6tn) limit. Mr Geithner had previously said the deadline for a deal was 8 July. But in a letter to Congress he said that better tax receipts meant the deadline could be extended to 2 August. Republicans want to tie any agreement on the US budget to spending cuts, especially in the healthcare programme....