News Summary: US Treasury resumes borrowing

Published on NewsOK Modified: February 6, 2013 at 1:29 pm •  Published: February 6, 2013
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BORROWING AGAIN: The Treasury Department has resumed borrowing now that Congress has approved and President Barack Obama signed a temporary measure that allows the government to take on billions of dollars in debt to fund its most basic operations.

FIRST UP: Treasury said that $31 billion of the $41.3 billion that it borrowed went to restoring two government employee pension funds. Treasury had moved money over from those funds to avoid breaching the $16.4 trillion borrowing limit.

SHOWDOWN COMING?: Once the suspension of the debt ceiling ends, Treasury said it would resume using extraordinary measures to keep basic operations going. Some Republicans say those extraordinary measures will not be available in May.