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Savings Bonds Sale Suspended

September 24, 1987|Associated Press

WASHINGTON — The Treasury Department today suspended the sale of U.S. savings bonds for the third time this year because President Reagan has not signed a bill raising the national debt limit. Banks and other financial institutions were ordered to stop selling the bonds until further notice.

The Senate gave final approval Wednesday and sent to Reagan a measure to raise the debt ceiling to $2.8 trillion. But the President has not decided whether he will sign the bill into law because of a separate provision that provides a new enforcement mechanism for the Gramm-Rudman deficit-cutting law.

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