Geithner says debt limit may be hit by March 31 (by Greg Robb)
WASHINGTON (MarketWatch) -- Treasury Secretary Timothy Geithner said Thursday that the U.S. could hit the $14.3 trillion debt ceiling as early as the end of March. In a letter to Senate Democratic Leader Harry Reid, Geithner said the government right now has room to borrow about $335 billion. It is most likely that the debt ceiling would be hit between March 31 and May 16, Geithner said. "This means it is necessary for Congress to act by the end of the first quarter," Geithner said.