WASHINGTON – Treasury Secretary Timothy Geithner says he has looked at all the options and that there is “no way to give Congress more time” to solve the debt limit problem.
Lawmakers face an Aug. 2 deadline to enact legislation to allow the government to continue to borrow to meet obligations like pension checks and payments to holders of U.S. Treasuries.
Get breaking National news
For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
Geithner has employed several accounting moves to allow the government to avoid a first-ever default. He warns that a default would rock the credit and stock markets and would force up the interest the government has to pay on its bonds.
Top lawmakers return to the White House Thursday amid dwindling hopes for a bipartisan deal to slash the deficit and combine it with a debt limit increase.
-
![]()
Around 40 killed, 100 injured after explosion and fire at Swiss ski resort during New Year’s celebration -
![]()
New Year’s 2026: New York’s ball drop in Times Square ushers in the new year -
![]()
New Year’s 2026: Rio de Janeiro’s Copacabana Beach sizzles with hottest fireworks yet -
![]()
New Year’s 2026: Burst of colours light up the ancient Acropolis in Athens, Greece
Comments