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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 This material may not be published, broadcast, rewritten or redistributed.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 60 120 8,936
MORTGAGES 89 177 12,029
FORECLOSURE NOTICES 0 29 2,457
BUILDING PERMITS 0 188 20,029
BANKRUPTCIES 60 122 7,748
BUSINESS LICENSES 20 36 3,260
UTILITY CONNECTIONS 106 224 11,247
MARRIAGE LICENSES 27 73 2,741

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