It looks like the statutory debt limit will be reached in October...

Latest News and Financial Information | Reuters.com

U.S. Treasury says likely to hit debt limit early Oct Wed Jul 14, 2004 12:26 PM ET WASHINGTON, July 14 (Reuters) - The U.S. will likely reach the federal debt ceiling in early October, a top Treasury Department official said in remarks, giving fresh details on when the politically sensitive limit will need to be raised.

In a written submission to Congress, obtained by Reuters on Wednesday, Treasury's nominee for assistant secretary for financial markets Timothy Bitsberger said the $7.384 trillion debt limit will need attention before the November election.

"It appears very likely the limit will be reached sometime in late September or October, with the most likely date being early October," Bitsberger said in remarks submitted for the record after a Senate confirmation hearing last week.

"Treasury may be in a better position to narrow this range after completion of the mid-session review," he said in response to a question from Sen. Max Baucus of Montana, the ranking Democrat on the Senate Finance Committee.