Economy

Demeter

(85,373 posts)

13. HERE WE GO AGAIN! Government likely to exhaust debt-ceiling options soon, Lew warns

Tue Feb 4, 2014, 07:54 AM

Feb 2014

http://www.washingtonpost.com/business/government-likely-to-exhaust-debt-ceiling-options-soon-lew-warns/2014/02/03/88f66ac8-8ce0-11e3-833c-33098f9e5267_story.html

Treasury Secretary Jack Lew urged Congress on Monday to act quickly to raise the federal debt limit, saying he will run short of cash to pay the nation’s bills by the end of the month without additional borrowing authority.

Enforcement of the debt limit is suspended, but it will come back into force Friday under the terms of a deal lawmakers struck in the fall. That leaves Lew bumping up against the limit in tax-filing season, he said Monday, when he will have far less flexibility to juggle the books and ward off disaster.

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