Treasury Secretary Timothy Geithner is giving Congress a bit more time to work out a deal to raise the federal debt ceiling. The Treasury announced Monday that more tax money has come in than expected. As a result, the U.S. is not likely to reach the ceiling until three weeks later than expected ? sometime in early August.
Source: http://www.npr.org/2011/05/03/135944920/business-news?ft=1&f=3
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