Getting your player ready...
U.S. close to debt limit
WASHINGTON — The Treasury Department said Wednesday it expects to hit the government’s debt ceiling by the end of February, putting pressure on Congress to raise the limit from its current level of $12.4 trillion. The Senate has approved legislation to increase it by $1.9 trillion to $14.3 trillion — equal to about $45,000 for every American — with a House vote expected today. This year’s projected deficit of $1.56 trillion, an all-time high, is equivalent to 10.6 percent of the economy — the highest proportion since World War II. The Associated Press; photo by Mark Lennihan, The Associated Press
