US Treasury plans bigger debt auctions and warns on the federal debt limit

Denis Balibouse | Reuters

Steven Mnuchin, U.S. Secretary of the Treasury, attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018.

U.S. Treasury Secretary Steven Mnuchin on Wednesday called on Congress to lift the nation’s debt limit “as soon as possible” so that the federal government can pay government employee benefits and other obligations.

In a letter to congressional leaders and key committee chairmen, Mnuchin said the Treasury Department would continue to suspend payments into federal employee retiree, health and disability funds through Feb. 28.