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U.S. to hit debt limit early January: Treasury

WASHINGTON — The US government will hit its debt limit in the first week of January, the Treasury Department said on Tuesday, as it pointed to an imminent request for $1.2 trillion increase. The government is expected to come within $100 billion of the current $15.2 trillion ceiling by the…

More than one-third of Senate urges debt panel to cut $4 trillion

Senator Mark Warner (D-VA) announced Thursday that he had organized a coalition of 36 senators to encourage the congressional “super committee” to seek the broadest possible agreement to address the nation’s spending and debt. The coalition — made up of 18 Republicans, 17 Democrats and one Independent — represents more…

White House says supports bill lifting debt limit to 2013

WASHINGTON (Reuters) – The White House said on Saturday it “strongly supports” a bill being considered in the House of Representatives that incorporates both Democratic and Republican ideas and would raise the debt limit to early 2013. “It is imperative that the United States not default on the nation’s obligations,”…

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