Treasury will exhaust emergency borrowing measures “no later than” Oct. 17….


Treasury Secretary Jack Lew warrned congressional leaders Wednesday that he will exhaust emergency borrowing measures “no later than Oct. 17,” leaving him with less than $30 billion on hand to pay the nation’s bills. In a letter sent to all members of Congress, Lew urged immediate action to raise the federal debt limit, which now stands at $16.7 trillion. Without additional borrowing authority, Lew warned that cash on hand “would be far short of net expenditures on certain days, which can be as high as $60 billion.

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One thought on “Treasury will exhaust emergency borrowing measures “no later than” Oct. 17….

  1. I find this utterly depressing…

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