Congressional budget rules treat the borrowing limit as a fundamental restraint on NFIP spending.
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Having reached its borrowing limit, the mail agency is operating with little cash on hand.
The US Congress has voted to extend the nation's borrowing limit until the middle of May.
Last year it cut the city's borrowing limit, impeding Mr Cardenas's plan for a new metro line.
The White House has welcomed a Republican plan to suspend the US borrowing limit for almost four months.
Lawmakers agreed to implement the across-the-board cuts as part of a 2011 deal to raise the federal borrowing limit.
They were required under a 2011 deal to raise the federal borrowing limit.
That deal put off further wrangling on the federal borrowing limit until mid-May.
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Ongoing discussions of the US borrowing limit and spending cuts still remain unresolved.
The U.S. federal government will soon run short of money once the country reaches its borrowing limit on Dec. 31.
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The Republican proposal would suspend the current borrowing limit until 18 May, the House Ways and Means Committee said on Monday.
If the program is expected to run annual deficits, as it is today, those deficits exist only until the borrowing limit is reached.
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Investors worried about the debt crisis in Europe and a fight between Congress and the White House over raising the government's borrowing limit.
As early as 2001 it became the first country to breach the 3%-of-GDP borrowing limit set by the European stability and growth pact.
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The Treasury Department has already passed its statutory borrowing limit and is currently funding the government under extraordinary measures with a limited shelf life.
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Those temporary budget savings thus cannot be used to offset spending in other programs (unless hitting the borrowing limit is pushed beyond the budget window).
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They have been threatening Washington DC with an effective shutdown if the cuts are not passed, by refusing to raise the federal government's borrowing limit.
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The Dow has returned 24 percent since the end of August 2011, after plunging following the showdown that month over raising the country's borrowing limit.
After all, it allows them to downplay the real significance of breaching the federal borrowing limit and at the same time kill lots of government programs.
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While open to compromise on budgetary issues, he would not offer Congress spending cuts in return for lifting the government's borrowing limit, known as the debt ceiling.
Every deadline -- for funding the government, raising the nation's borrowing limit or addressing expiring taxes or tax cuts -- led to protracted wrangling and last-minute agreements.
They were included in a 2011 deal to raise the federal borrowing limit as an unacceptable outcome if Congress failed to agree on a comprehensive deficit reduction plan.
Last night the House of Representatives backed a bill to raise the country's borrowing limit by more than two trillion dollars, cutting spending over 10 years by around the same amount.
Congress also must authorize an increase in the federal borrowing limit this summer, and Republicans have made clear they intend to leverage that moment to try to extract concessions.
In addition to the sequester, debates are brewing over the government's borrowing limit - known as the debt ceiling - as well as government spending cuts, and other fiscal matters.
The index reversed a drop of as much as 24 points amid news that House Republican leaders are considering a plan to extend the federal borrowing limit for three months.
The bill's signing came just 10 hours before the expiry of a deadline for Washington to raise its borrowing limit, after drawn-out talks between Republicans, Democrats and the White House.
Some structure would have to be maintained, such as capping the borrowing limit at 50% of your retirement savings, and initiating a public awareness campaign on the drawbacks to early withdrawal.
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The borrowing limit thus acts like the trust fund balance in Medicare Part A or Social Security, except that it allows the program to go a fixed amount into the red.
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Megna, Cuomo's budget director, noted the budget keeps the increase in spending to under 2 percent while holding the line on borrowing and keeping it just under the state's borrowing limit.
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