» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 129 | NO. 23 | Tuesday, February 04, 2014

Lew Urges Quick Action to Raise Debt Ceiling

MARTIN CRUTSINGER | AP Economics Writer

Print | Front Page | Email this story | Comments ()

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 This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 87 87 14,804
MORTGAGES 80 80 19,410
FORECLOSURE NOTICES 22 22 3,817
BUILDING PERMITS 142 142 35,472
BANKRUPTCIES 62 62 14,096
BUSINESS LICENSES 62 62 5,053
UTILITY CONNECTIONS 99 99 21,532
MARRIAGE LICENSES 37 37 4,594

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.