Report: Treasury Could Avoid Shutdown Staff
Posted: May 26, 2011 11:02 AM
Report: Treasury Could Avoid Shutdown
The federal government will not need to shut down and could find ways to pay its obligations even if the debt ceiling is reached before a law is passed to raise it, congressional researchers told lawmakers at a recent briefing.

The Congressional Research Service briefing and two reports provided by Congress' investigative arm suggest the government could potentially limp along after Aug. 2, the date by which Treasury Secretary Tim Geithner says Washington has to raise the debt ceiling or face the possibility of default.

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