Congress Poised to Vote on Debt Ceiling

National Journal: “House Republicans scrapped a plan they devised Monday night to raise the debt ceiling with an additional measure to reverse veterans’ cuts. Instead, they’re going clean, according to a source in the room. That vote will come Tuesday night, because of a possible snowstorm on the east coast, says a House leadership aide.”

And just in time. The Wall Street Journal reports that “the U.S. Treasury on Monday said it would suspend investments in federal worker retirement funds, the latest emergency measure the government is taking to stay under the federal debt ceiling.”

“Taken together, the moves free up a little less than $175.1 billion that the Treasury can use to stay under the borrowing cap.”

“The Treasury Department estimates that so-called extraordinary measures, like the ones taken Monday, will allow the government to continue borrowing and paying all of its bills until about Feb. 27.”

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