Congress asked to raise debt limit to $1.275 trillion

The Reagan administration asked Congress to raise the national debt limit to a record $1.275 trillion through Sept. 30, 1983.

The present temporary debt limit of $1.079 trillion will expire Sept. 30, 1982, when the debt limit will revert to the permanent ceiling of $400 billion.

A Treasury Department spokesman said that Congress will have to take action by the third week of June to give the Treasury enough time to auction a new four-year note for subsequent issuance June 30, to refund maturing securities, and to raise the new cash needed at that time.

You've read  of  free articles. Subscribe to continue.
QR Code to Congress asked to raise debt limit to $1.275 trillion
Read this article in
https://www.csmonitor.com/1982/0527/052722.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe