The Treasury Department will run out of “extraordinary measures” to keep borrowing and deplete its cash balance sometime during the first half of November, the Congressional Budget Office said in a new estimate Wednesday. The nonpartisan agency had previously said Treasury would run out of borrowing ability between mid-November and early December. The CBO’s new estimate is roughly in line with Treasury Secretary Jacob Lew’s statement that extraordinary measures would be exhausted “on or about” Nov. 5. Lew has urged lawmakers to raise the borrowing cap as soon as possible.
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