Timothy Geithner: Debt Limit Will Be Reached December 31

U.S. Treasury Secretary Timothy Geithner said Wednesday that the nation's statutory debt limit will be reached on December 31 and the Treasury Department will take "certain extraordinary measures" to postpone the date. In a letter to Senate Majority Leader Harry Reid (D-Nev.), Geithner said that the measures would add about two months -- or an additional $200 billion -- to the limit under normal circumstances. However, given the tax and spending uncertainty due to the so-called fiscal cliff, Gei...