Fittest loser
Article updated: 2/3/2014 10:30 AM

Lew urges quick action to raise debt ceiling

Senator Robert Menendez, a Democrat from New Jersey, listens to testimony during a Senate Finance Committee hearing last fall. Congress suspended the debt limit in October as part of a deal to reopen the government after a partial shutdown. But the suspension ends on Friday.

Senator Robert Menendez, a Democrat from New Jersey, listens to testimony during a Senate Finance Committee hearing last fall. Congress suspended the debt limit in October as part of a deal to reopen the government after a partial shutdown. But the suspension ends on Friday.

 

Bloomberg News file photo

 1 of 1 
 
text size: AAA
By Associated Press

WASHINGTON -- 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 reopen the government after a partial shutdown. But the suspension ends on Friday.

Advertisement

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.

Comments ()
We are now using Facebook comments to offer a more inclusive, social and constructive discussion. Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.

This article filed under

Business Video
Area Business Calendar

BusinessDirectory

Connect with a business or service in your area fast. First select a town, then enter a search term or choose one of the listed popular searches:

Don't see your town listed? Visit our full directory to begin your search.

MostViewed

Today
Yesterday
Most Commented
Top Jobs

    View all Top Jobs Place a job ad

    DHExtras

       
    • Newspaper next section - Newspaper next section Report card checker - report card checker
    • Dh innovation award 2 - Dh innovation award 2 Zillow /real estate page
    • Discuss refer On Guard series
    • Newspaper archives -- Monday or anyday Mike North

    FacebookActivity