» 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 This material may not be published, broadcast, rewritten or redistributed.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 News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 61 128 13,417
MORTGAGES 87 166 16,872
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 135 240 28,969
BANKRUPTCIES 54 124 10,071
BUSINESS LICENSES 37 56 4,413
UTILITY CONNECTIONS 83 203 16,524
MARRIAGE LICENSES 22 59 3,532

Weekly Edition

Issues | About

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