The federal government hit its debt limit at the end of last year. Since then, the Treasury Department has been taking what it calls “extraordinary measures” to keep the government funded and avoid defaulting on U.S. obligations.
But those measures will run out sometime between the middle of February and early March. Then it’s up to Congress to raise the debt limit.
House Republicans are wrestling with the best strategy at a retreat Thursday and Friday in Virginia. And some have been denying that there is a risk of default if the debt ceiling isn’t raised.
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