Geithner: U.S. Is 'Running Out of Time' to Reach Debt Deal

U.S. Treasury Secretary Timothy Geithner went to the U.S. Capitol on Thursday with a warning: time is running out to craft a bipartisan deal to raise the U.S. debt limit before an Aug. 2 deadline.

"We are running out of time," Geithner told reporters after a closed-door meeting with President Barack Obama's fellow Democrats in the Senate. Geithner said Democrats are united to make sure that the United States pays its bills.

(Reporting by Donna Smith and Rachelle Younglai; editing by Eric Beech)