U.S. post-August 2 plan won't come out Friday: source

Reuters News
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Posted: Jul 29, 2011 1:39 PM
U.S. post-August 2 plan won't come out Friday: source

WASHINGTON (Reuters) - The Treasury will not unveil a plan on Friday on how the government will operate and pay its bills if Congress does not raise the debt cap in a timely manner, a source familiar with the administration's thinking said.

As Tuesday's deadline to raise the country's $14.3 trillion debt limit draws near, Treasury has said it will provide more information on how the government will operate without the authority to borrow more funds to pay its bills.

(Reporting by Rachelle Younglai; Editing by James Dalgleish)