Treasury suspends investments as US hits debt ceiling
The US Treasury has that said it will hit a legal limit on borrowing but will launching new measures to keep the nation from defaulting on its debt.
In a separate letter, Treasury Secretary Timothy Geithner told congressional leaders that the government would suspend some investments in pension and health benefit funds for federal workers to free up borrowing authority.
The suspension of the investments is part of a series of measures announced last week to keep the country from defaulting on its debt.
America's budget crisis has been averted, but not solved
America's financial crisis has been averted, not solved. We've had the fiscal cliff. Now get ready for the debt abyss.
What is America's 'fiscal cliff'?
Democrats and Republicans have so far failed to agree on an alternative plan to the tax increases and spending cuts scheduled for January 1.