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Geithner taps federal pension fund

Posted By -NO AUTHOR- On 01/16/2013 @ 11:40 pm In Money,U.S. | No Comments

(Associated Press) Treasury Secretary Timothy Geithner says the government has begun borrowing from the federal employee pension fund to keep operating without surpassing its debt limit.

Geithner says in a letter to congressional leaders that the move will free up $156 billion in borrowing authority while Congress debates increasing the $16.4 trillion debt limit.

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