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Congress must raise or suspend debt limit by Oct. 18, Yellen says

Congress must raise or suspend debt limit by Oct. 18, Yellen says

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Treasury Secretary Janet Yellen said Tuesday that the Treasury Department is likely to exhaust extraordinary measures to keep from defaulting on its debt if Congress has not acted to raise or suspend the debt limit by Oct. 18. “At that point, we expect Treasury would be left with very limited resources that would be depleted quickly,” Yellen said in an update sent to Congressional leaders.

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