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Treasury To Suspend State, Local Security Sales

Wednesday, May 15, 2013 - 4:21 PM
From MarketWatch:
The Treasury Department on Friday will suspend sales of state and local government Treasury securities until further notice, the first action to avoid hitting the U.S. debt ceiling. The debt ceiling is expected to be reached on May 18, but the Treasury had been expected to take steps like this one in order to keep paying bills.

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The nation's debt limit is expected to be reached by Labor Day or, at the latest, by November.
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