Treasury Secretary Timothy Geithner warned Congress on Monday that the U.S. could default on its payment obligations as early as mid-February.
Geithner, who has been employing “extraordinary measures” since the debt ceiling was reached on Dec. 31, said he was running out of maneuvers to delay a default. He urged lawmakers to raise the $16.4 trillion borrowing limit quickly.
“Treasury currently expects to exhaust these extraordinary measures between mid-February and early March of this year,” Geithner said in a letter to Speaker John Boehner (R-Ohio) and other top leaders.
The date range matches an informal estimate made by the Bipartisan Policy Center last week.