U.S. Treasury Secretary Jacob J. Lew said U.S. borrowing authority may not last past Feb. 27 and urged Congress to extend the debt ceiling as soon as possible.Extraordinary measures used by the Treasury to keep under the debt ceiling “are likely to be exhausted in less than three weeks,” Lew said today in a letter to House Speaker John Boehner.
“Congress is scheduled to be out of session for part of that time, and it would be a mistake to wait until the last possible minute to act,” he said.“I respectfully urge Congress to move as quickly as possible, raise the debt limit, and provide certainty to the economy and to the financial markets.”Is the next crisis one is looking at .
This is also the month when the IRS issues the refund cheques which can be 10 to 15 billion dollars in a single week and in some cases goes over 40 billion dollars a week.
“Congress is scheduled to be out of session for part of that time, and it would be a mistake to wait until the last possible minute to act,” he said.“I respectfully urge Congress to move as quickly as possible, raise the debt limit, and provide certainty to the economy and to the financial markets.”Is the next crisis one is looking at .
This is also the month when the IRS issues the refund cheques which can be 10 to 15 billion dollars in a single week and in some cases goes over 40 billion dollars a week.