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February 07, 2014 AT 1:26 PM
Treasury Secretary Jacob Lew warned lawmakers emergency measures to stay under the U.S. debt limit probably won't last past Feb. 27, leaving little time to craft a deal that can clear Congress. The federal government is set to run up against its legal borrowing limit Friday, when a suspension of the debt ceiling expires, preventing it from adding to its more than $17 trillion in public debt.