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March 17, 2017

Debt limit goes back into effect at level near $20T

AP Economics Writer

WASHINGTON — The national debt limit came back into force Thursday at a level near $20 trillion, prompting the Trump administration to alert Congress about the measures it will take to stay under the new limit.

Treasury Secretary Steven Mnuchin said in a letter to lawmakers that that he has started employing various bookkeeping measures to avoid breaching the new limit, a process that will provide possibly five months or more for Congress to raise the limit.

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