In new letter to Congress, Treasury Secretary Jack Lew pleads with Congress to “act immediately” to raise the Government’s Debt Limit.
— Mark Knoller (@markknoller) October 1, 2013
Lew tells Congressional Leaders that Treasury is now using the last of the “extraordinary measures” it has to avoid default.
— Mark Knoller (@markknoller) October 1, 2013
Lew says no later than Oct 17th, Treasury will have just $30-billion on hand and could face obligations certain days as high as $60-billion.
— Mark Knoller (@markknoller) October 1, 2013
Lew warns that insufficient funds could lead to a US Treasury default for the “first time in our history.”
— Mark Knoller (@markknoller) October 1, 2013