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From Goldman’s Alec Phillips:We have updated our projections of federal debt subject to statutory limit, and find the period until the limit must be raised is only slightly longer than we projected earlier this year. Our current projection is that the Treasury will reach the official limit by year end, though this appears more likely to occur in December, rather than in November as had seemed possible in our previous projection. Assuming it uses the cash management and accounting strategies that have been employed in the past, the Treasury is likely to be able to finance government operations under the limit until sometime in February 2013, by which point Congress must raise the debt ceiling.
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