Debt Limit Coming a Month Earlier Than Expected (Updated)

Updated 5:56 p.m. | The Treasury Department said Thursday it would reach the debt limit a bit earlier than was expected by many on Capitol Hill.

Treasury Secretary Jacob J. Lew told Congress in a new letter that thanks in part to lower-than-expected quarterly tax receipts, the extraordinary measures to forestall breaching the debt limit, combined with the new revenues, will run their course just a week after the resignation of Speaker John A. Boehner, R-Ohio, takes effect. Continue reading