Congress Is Asked to Raise Debt Limit

Associated Press
Friday, December 30, 2005; Page A11

Treasury Secretary John W. Snow said yesterday that the United States could be unable to pay its bills in early 2006 unless Congress raises the government's borrowing authority, which is now capped at $8.18 trillion.

Snow, in a letter to lawmakers, estimated that the government is expected to bump into the statutory debt limit around the middle of February.