US Treasury to hit debt limit in mid-October

The US Treasury will reach its debt limit in mid-October, Dow Jones reported on Monday, a development that would mean the United States would not be able to pay all its bills soon after that time, barring congressional action. A congressional battle over the debt limit of the United States two years ago became a crisis that negatively and heavily affected markets. Earlier this year, Treasury Secretary Jack Lew predicted that the debt ceiling would not likely be reached until September. "The uncertainty caused by putting this off is not good," Lew said at the time. "The anxiety caused to the US and world economy by putting this off until the last minute is not good."