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The Treasury Department says that it will reach its borrowing limit on October 17th.
And so we borrow other life wholly and eat it and end its borrowing.
But more recently, it has been increasing its borrowing.
Since then, it has shifted most of its borrowing to long-term bonds.
Eventually, it ends up in breach of its borrowing covenants, which creates a major funding crisis.
Still, it has now covered 80% of its borrowing needs for this year.
It needs Congress to approve an increase in its borrowing authority, known as the debt ceiling.
After Sandy, its borrowing limit was boosted to about $30 billion, of which it has to date used $25 billion.
Would its borrowing costs rise?
That would lower its borrowing cost.
The federal government also slowed its borrowing.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com