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Treasury needs to raise 8 trillion debt limit { February 2006 } Original Source Link: (May no longer be active)    http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-03-14T154424Z_01_N14336273_RTRIDST_0_ECONOMY-SNOW-DEBT-UPDATE-1.XML http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-03-14T154424Z_01_N14336273_RTRIDST_0_ECONOMY-SNOW-DEBT-UPDATE-1.XML UPDATE 1-US's Snow-Congress must raise debt limit this week Tue Mar 14, 2006 10:44 AM ET (Adds details from speech) WASHINGTON, March 14 (Reuters) - U.S. Treasury Secretary John Snow said on Tuesday Congress must act this week to raise the $8.18 trillion U.S. debt ceiling or risk losing the confidence of markets and investors. "Timely action on the debt ceiling this week, before Congress leaves for recess, is critical to assure financial markets and investors that the integrity of the obligations of the United States will not be compromised, nor will even a risk of such compromise be countenanced," Snow said in remarks prepared for delivery to a conference organized by America's Community Bankers. If the ceiling is not raised, Treasury would not be able to issue new debt. The House of Representatives nearly a year ago passed a $781 billion increase in the debt ceiling. The Senate is set to weigh a similar measure. Snow warned senators against adding amendments to the bill, which could result in the need for further House action and potential delays. "Any effort to use this 'must pass' legislation as a means of achieving leverage on other issues should be set aside and avoided," he said.

Billions in federal lands sold off { December 3 2007 } Budget deficit hits 374b { October 20 2003 } Buffett attacks america as rich spending junkies { March 7 2005 } Buffett makes billions betting against dollar { March 5 2005 } Bush presides over biggest spending since 1990 Cheney says deficits dont matter { January 12 2004 } China holds the mortgage to the dollar { August 31 2005 } China loses faith in dollar Congress approves 1tr debt { May 27 2003 } Debt near ceiling again { February 20 2003 } Fd chair blames long term rates on world savings glut { March 20 2006 } Federal deficit estimated almost another trillion { January 25 2005 } Financial crisis if foreign investors pull out { November 21 2005 } Foreign investors finance US debt by 2b a day Government borrows billion a day { October 8 2004 } Greenspan leaves us with record debt { January 23 2006 } Greenspan warns not to pay down debt { March 22 2001 } Raise debt limit Raises debt limit { June 27 2001 } Republicans raise debt limits to 9 trillion { March 17 2006 } Short term yields above long term in reinversion Snowballing debt awaits taxpayers { December 1 2003 } Treasury needs to raise 8 trillion debt limit { February 2006 } UN calls for asian help US deficits { January 26 2005 } US debt tops 9 trillion for first time { October 2007 } War spending drives record deficit estimate Whitehouse urges raise debt ceiling { May 20 2003 } Files Listed: 27

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