debt limit

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Jack Lew: US About to Default on Its Debt

Treasury secretary asks Congress to extend the debt limit

(Newser) - US Treasury Secretary Jack Lew sent a message to Congress today: To wit, we need more money, and fast. Lew warned lawmakers that they'd better raise the country's borrowing limit before the current debt-limit suspension expires on Friday and reinstates a $16.7 trillion cap, the BBC reports.... More »

As Default Looms, Investors Scurry to Unload US Bonds

Banks steer clear of short-term US debt

(Newser) - Worried over the possibility of default, investors and banks aren't taking chances: They're selling off billions of dollars of US debt, the Wall Street Journal reports. Banks have cut their government debt holdings by some 50% in the past two weeks, New York's Federal Reserve says. Additionally,... More »

Shutdown Deal Near? Tone Still Hopeful

More meetings today amid signs of progress

(Newser) - So will the week end with a Capitol Hill deal to reopen the government and avoid a default, or at least set the stage for a weekend breakthrough? Signs of progress remain promising , but as Politico puts it, "there’s no one dancing in the West Wing end zone"... More »

Dems Put Forward Debt Limit Measure

Senators fear White House edging toward negotiations

(Newser) - President Obama and Senate Democrats have put a long-term measure to raise the debt ceiling on the table. The legislation would boost the debt ceiling by $1 trillion, the Washington Post reports—though Dems say in order to avoid default, they might OK a short-term solution instead, even if it... More »

House GOP Mulls New Route to Avoiding Shutdown

ObamaCare fight could be tied to debt-limit measure instead

(Newser) - Now that the Senate has voted to open debate on a bill to fund the government, Harry Reid can remove its measures to defund ObamaCare before returning it to the House. But that doesn't mean the GOP is giving up on the fight. John Boehner could approve the bill,... More »

Lew: US Will Hit Debt Ceiling in October

Warns Congress it must act 'as soon as possible' to raise limit

(Newser) - Treasury Secretary Jacob Lew has given Congress until mid-October to raise the debt ceiling. That's when he predicts the Treasury will run out of "extraordinary measures" to avoid going over the $16.7 trillion borrowing limit. In a letter to lawmakers today, Lew urged them to act "... More »

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