WASHINGTON (Reuters) - The Treasury on Tuesday started dipping into federal pension funds in order to give the Obama administration more credit to pay government bills.
Treasury started suspending reinvestments in a federal pension fund known as the G-Fund in order to avoid hitting the country's $15.194 trillion debt limit.
"I will be unable to invest fully" the federal employees retirement system fund, beginning Tuesday, Treasury Secretary Timothy Geithner told Democratic and Republican leaders in Congress.
The House of Representatives is expected to vote Wednesday on the Obama administration's request to increase the debt limit by $1.2 trillion.
(Reporting By Rachelle Younglai; Editing by Chizu Nomiyama)
Saudi Arabia Threatens to Sue Anyone Who Compares Their Justice System to ISIS | Christine Rousselle
John Hawkins - 15 Excerpts That Show How Radical, Weird And Out of Touch College Campuses Have Become
People who approve publishing lists of gun owners cry foul over published list of Muslims
'By whom, exactly?' Joyce Carol Oates called on novel notion that shooter might be 'honored as a martyr'
S.C. Woman Outdraws, Outshoots, And Kills CraigsList Robber - Bearing Arms - Guns Saving Lives, South Carolina
The Myth of "4 Million Conservative Voters Stayed Home in 2012" | RedState
Importing Terrorism and Other American Values | Human Events
- What Is Your U.S. Income Percentile Ranking?