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Editorial: The dwindling U.S. piggybank

The sun rises over the U.S. Capitol. (Sept.

The sun rises over the U.S. Capitol. (Sept. 25, 2013) Credit: AP

$30 billion -- That's the difference between the amount of money the U.S. Treasury will have on hand on Oct. 17 and what it needs for daily expenditures of as much as $60 billion. Treasury Secretary Jacob Lew laid out that stark math last week in a letter informing Congress that the extraordinary measures available to pay the bills would be exhausted by then, making it impossible for the nation to meet all of its obligations for the first time in history. Unless Congress raises the debt ceiling, that's the day the United States will officially become a deadbeat.

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