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VOL. 129 | NO. 23 | Tuesday, February 04, 2014

Lew Urges Quick Action to Raise Debt Ceiling

MARTIN CRUTSINGER | AP Economics Writer

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WASHINGTON (AP) – Treasury Secretary Jacob Lew says he will start using emergency measures after Feb. 7 to avoid a first-ever default on the national debt. He says he expects to exhaust those measures quickly.

Lew said in a speech Monday that he expected to run out of maneuvering room by the end of this month. Congress suspended the debt limit last October as part of a deal to re-open the government after a partial shutdown. But the suspension ends on Friday.

After that time, Lew can employ various measures to keep the government operating without breaching the debt limit.

But he said because of the time of the year, those measures will probably only last until Feb. 28. He said Congress should act without delay to increase the debt ceiling.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 57 307 5,073
MORTGAGES 101 483 6,709
FORECLOSURE NOTICES 22 77 1,556
BUILDING PERMITS 0 720 11,979
BANKRUPTCIES 84 341 5,300
BUSINESS LICENSES 36 125 2,061
UTILITY CONNECTIONS 152 594 7,058
MARRIAGE LICENSES 36 117 1,458

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