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http://www.washingtonpost.com/wp-dyn/articles/A56227-2003Apr29.html
Treasury Says U.S. Could Face Default
By JEANNINE AVERSA
The Associated Press
Tuesday, April 29, 2003; 7:17 PM
WASHINGTON - The Treasury Department says the United States could face the
prospect of not being able to pay its bills in late May unless Congress raises the
government's borrowing authority, now capped at $6.4 trillion.
Treasury's debt managers have taken a number of steps since February to prevent the
government from defaulting on the national debt, but "on current projections, the
extraordinary measures taken since Feb. 20, 2003, will only be adequate to meet the
government's needs until the latter half of May," said a statement released Tuesday.