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What's next on the fiscal crisis

  • January 4, 2013 - 7:50 PM

WHAT'S NEXT

End of February: The Treasury Department will exhaust its ability to extend the nation's $16.4 trillion debt ceiling. At that point, the government will not be able to pay its bills unless Congress votes to raise the nation's legal borrowing limit.

Early March: Deadline to deal with the $110 billion cut in spending, half from the Pentagon, delayed as part of this deal.

March 27: A short-term measure that funds government agencies will lapse. Without a renewal, the government will shut down.

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