US government hits the debt ceiling

http://thehill.com/homenews/administration/161571-us-hits-debt-ceiling

The U.S. government officially hit the federal debt limit Monday, prompting the Treasury Department to invoke new measures to prevent a default.
Treasury Secretary Timothy Geithner tapped into two government employee pension funds to free up cash, and warned in a letter to congressional leaders of “catastrophic economic consequences” if the ceiling is not hiked.