Lew: US Will Hit Debt Ceiling Late February

On Wednesday, Secretary of the Treasury Jack Lew said that America would once again hit the debt ceiling by late February, despite Congress’ temporary debt limit increase back in October 2013. That agreement suspended the debt ceiling and funded the federal government, as well as creating a committee with an eye toward a deficit reduction plan. The deal did contemplate that the debt ceiling would run out by February 7.

Lew wrote, “I respectfully urge Congress to provide certainty and stability to the economy and financial markets by acting to raise the debt limit before February 7, 2014, and certainly before late February.”

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