The U.S. will hit its $16.4T statutory debt ceiling on Dec. 31, Tim Geither warns in a letter to...

|By:, SA News Editor

The U.S. will hit its $16.4T statutory debt ceiling on Dec. 31, Tim Geither warns in a letter to Harry Reid. Geithner says the Treasury will create $200B in "headroom" by means of "extraordinary measures," which he says would last the government two months in "normal circumstances."