U.S. Treasury tells Congress it has more time under debt ceiling
WASHINGTON May 17 (Reuters) - The Obama administration on Friday notified Congress it was prepared to take extraordinary steps to allow it to keep paying the nation's bills once a temporary suspension in the government's debt ceiling lapses this weekend.
To preserve its borrowing capacity, the Treasury Department said it would use the same measures that have been used in previous debt limit impasses to continue paying the nation's bills on time to free up $260 billion in headroom.
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