It's official: U.S. hits debt ceiling
December 31st, 2012
06:30 PM ET
10 months ago

It's official: U.S. hits debt ceiling

New York (CNNMoney) – It's official: U.S. debt will reach its legal borrowing limit on Monday, giving Congress about two months before it must raise the debt ceiling or risk causing the government to default on its bills and financial obligations.

"I can confirm we will reach the statutory debt limit today, Dec. 31," a Treasury Department official said.

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Filed under: CNNMoney.com • Debt