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September 25, 2013 AT 5:45 AM
U.S. Treasury Secretary Jack Lew warned Congress that the United States would exhaust its borrowing capacity no later than October 17, at which point it would have only about $30 billion in cash on hand. The fresh estimate came in a letter to congressional leaders in which Lew urged them to move swiftly to raise the nation's $16.7 trillion debt limit.