<img src=" http://www.joplinglobeonline.com/images/zope/wednesday.gif" border=0> Treasury expects debt limit will be hit in Dec.

City wants to buy weather radios for those without

Phil Jones had been working on a construction project outside his house all day on May 22 and was unaware that a tornado watch had been issued. Once he was inside, though, his weather radio went off, and he learned that a warning had been issued.

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November 4, 2009

Anonymous The Joplin Globe Wed Nov 04, 2009, 08:10 AM CST

WASHINGTON (AP) — The Treasury Department expects to hit the government’s debt limit in December, two months later than its initial estimate, after scaling back an emergency loan program as the financial crisis abated.

Treasury Department officials say they’re working closely with Congress to pass the legislation needed to boost the debt ceiling, currently at $12.1 trillion, and avoid an unprecedented default on the nation’s debt obligations.

Treasury also says it’s ending sales of 20-year inflation-protected securities and will instead offer similar 30-year securities starting next year. The government believes the longer maturity option will be more popular with investors.

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