Treasury takes steps to avoid debt limit - KNOE 8 News; KNOE-TV; KNOE.com |

Treasury takes steps to avoid debt limit

Posted: Updated:

WASHINGTON (KNOE 8 News/AP) - The federal government says it will temporarily suspend sales of U.S. Treasury securities to state and local governments starting at noon on Friday, its first step to avoid breaching the nation's borrowing limit this year.

The move announced Tuesday by Treasury officials will be followed by other bookkeeping maneuvers which have the goal of keeping the government functioning until Congress decides to raise the borrowing limit.

Last October, the government temporarily suspended the borrowing limit, but that ends this Friday. Treasury can keep the government operating for a few weeks but Treasury Secretary Jacob Lew has warned that he has less maneuvering room than he did last year.

The suspension of sales of Treasury securities to state and local governments will affect their ability to manage their investment holdings.

  • Most Popular StoriesMost Popular StoriesMore>>

  • 28 Monroe area businesses cited for selling to minors

    28 Monroe area businesses cited for selling to minors

    Tuesday, July 29 2014 11:51 AM EDT2014-07-29 15:51:09 GMT
    Baton Rouge, La. (KNOE 8 News ATC) - Agents with the Office of Alcohol and Tobacco Control recently conducted compliance checks at 173 businesses in the Monroe and West Monroe areas. During those compliance checks, 28 of the businesses, which consist of area restaurants, bars and convenience stores, were caught selling alcohol and tobacco products to minors.
    Baton Rouge, La. (KNOE 8 News ATC) - Agents with the Office of Alcohol and Tobacco Control recently conducted compliance checks at 173 businesses in the Monroe and West Monroe areas. During those compliance checks, 28 of the businesses, which consist of area restaurants, bars and convenience stores, were caught selling alcohol and tobacco products to minors.
  • Two arrests, officer tazed at Watermelon Festival

    Two arrests, officer tazed at Watermelon Festival

    Monday, July 28 2014 4:41 PM EDT2014-07-28 20:41:59 GMT
    FARMERVILLE, La. (KNOE 8 News UPSO) - Union Parish sheriff’s deputies made at least two arrests over the Watermelon Festival weekend, one that involved a deputy getting tazed.
    FARMERVILLE, La. (KNOE 8 News UPSO) - Union Parish sheriff’s deputies made at least two arrests over the Watermelon Festival weekend, one that involved a deputy getting tazed.
  • Union Parish School District employees get a raise

    Union Parish School District employees get a raise

    Tuesday, July 29 2014 11:17 PM EDT2014-07-30 03:17:56 GMT
    FARMERVILLE, La. (KNOE 8 News) - It's Christmas in July for the Union Parish School Board employees. At this month's school board meeting, the board voted to give every employee a raise. 
    FARMERVILLE, La. (KNOE 8 News) - It's Christmas in July for the Union Parish School Board employees. At this month's school board meeting, the board voted to give every employee a raise. 
  • West Monroe man arrested for meth possession

    West Monroe man arrested for meth possession

    Sunday, July 27 2014 9:09 PM EDT2014-07-28 01:09:38 GMT
    WEST MONROE, La. (KNOE 8 News) - West Monroe Police arrested a man early Sunday morning for possession of drugs.
    WEST MONROE, La. (KNOE 8 News) - West Monroe Police arrested a man early Sunday morning for possession of drugs.
  • McDonald's could lose "franchise" protection

    McDonald's could lose "franchise" protection

    Wednesday, July 30 2014 12:17 PM EDT2014-07-30 16:17:44 GMT
    (AP) - Under pressure from a barrage of lawsuits seeking fair treatment and wages, McDonald's could be on the verge of losing one of its main protections.
    (AP) - Under pressure from a barrage of lawsuits seeking fair treatment and wages, McDonald's could be on the verge of losing one of its main protections.
  • 17 hurt after multi-vehicle Madison Parish wreck

    17 hurt after multi-vehicle Madison Parish wreck

    Tuesday, July 29 2014 3:16 PM EDT2014-07-29 19:16:12 GMT
    DELTA, La. (AP) - A multiple-vehicle accident on the Mississippi River bridge connecting Madison Parish, Louisiana, and Warren County, Mississippi, has sent 17 people to a hospital, most with minor injuries.
    DELTA, La. (AP) - A multiple-vehicle accident on the Mississippi River bridge connecting Madison Parish, Louisiana, and Warren County, Mississippi, has sent 17 people to a hospital, most with minor injuries.
  • Passenger dies on US Airways flight to Phoenix

    Passenger dies on US Airways flight to Phoenix

    Wednesday, July 30 2014 12:18 PM EDT2014-07-30 16:18:01 GMT
    PHOENIX (AP) - Authorities in Phoenix say a passenger has died on a US Airways flight to Phoenix from Honolulu after a suffering an unknown medical emergency.
    PHOENIX (AP) - Authorities in Phoenix say a passenger has died on a US Airways flight to Phoenix from Honolulu after a suffering an unknown medical emergency.
  • Top Ebola doctor dies from the virus

    Top Ebola doctor dies from the virus

    Wednesday, July 30 2014 12:33 PM EDT2014-07-30 16:33:58 GMT
    Patrick Sawyer had one stop to make before heading home to Minnesota to celebrate his daughters' birthdays: a conference in Lagos, Nigeria.
    Patrick Sawyer had one stop to make before heading home to Minnesota to celebrate his daughters' birthdays: a conference in Lagos, Nigeria.
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.