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Congressional Budget Office

Waiting for Congress, Mnuchin makes 2nd emergency debt move

Treasury Secretary Steven Mnuchin said Monday he is making a second emergency move to keep the government from going above the debt limit while awaiting congressional action to raise the threshold.

In a letter to congressional leaders, Mnuchin said he will not be able to fully invest in a large civil service retirement and disability fund. Skipped investments will be restored once the debt limit has been raised, he said.

In September, Congress agreed to suspend the debt limit, allowing the government to borrow as much as it needed. But that suspension ended Friday.

The government said the debt subject to limit stood at $20.46 trillion on Friday. Mnuchin has said he...

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