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DEBT CEILING U.S. Could Default on Debt by Feb. 15 U.S. Capitol at dusk. (Drew Angerer/Getty)

U.S. Could Default on Debt by Feb. 15

A new analysis found that the U.S. government could default on its debt as early as Feb. 15, which is half a month earlier than was originally expected. The analysis by the Bipartisan Policy Center says that the government will be unable to pay its bills starting sometime between Feb. 15 and March 1. The government technically hit the $16.4 trillion statutory debt limit on Dec. 31, but the Treasury Department is able to attempt certain accounting schemes, known as “extraordinary measures,” that were expected to put off a default through the first two months of the year. But a spokesperson for the Bipartisan Policy Center said, “Our numbers show that we have less time to solve this problem than many realize.”

January 8, 2013 6:40 AM