Home / Sponsored / U.S. dipping into pensions as it hits debt limit

U.S. dipping into pensions as it hits debt limit

U.S. Treasury Secretary Timothy Geithner told Congress he would start tapping into federal pension funds Monday to free up borrowing capacity as the nation hits the $14.294 trillion legal limit on its debt.

The U.S. Treasury will issue $72 billion in bonds and notes on Monday, pushing the nation right up against its borrowing cap at some point during the day, a Treasury official said.

Geithner said he would suspend investments in two government retirement funds to give the U.S. Treasury additional room to borrow.

via U.S. dipping into pensions as it hits debt limit – Chicago Breaking Business.