“Treasury Secretary Jacob Lew urged Congress on Thursday to raise the US borrowing ceiling, warning that not doing so could jeopardize Washington’s creditworthiness and raise fears of a default. With the US closing on the point where spending will surpass available funds, Lew said it was crucial for Congress to raise the debt cap as soon as it comes back into session at the beginning of September. Failure to raise the ceiling would force cuts to many parts of the government, including the military and social security benefit payouts, and ‘have disastrous effects for our nation,’ Lew told an audience in Mountain View, California.”
Related posts:
Senator: Contractor that vetted Snowden is under investigation
'Mini Lisa': Georgia Tech researchers create world's tiniest da Vinci reproduction
Naturalized Americans No Longer Have an Assumption of Permanence
Venezuelan president Maduro gets power to rule by decree
Supreme Court Messes With East Texas ‘Patent Troll’ Hotbed
Oklahoma prosecutors return $21,227 more to Interstate 40 travelers
Fed Could End Up Paying Banks $77 Billion Annually on Excess Reserves
EU neighbours regret Swiss vote for immigration quotas
3 Years in, Bitcoin Digital Money Gains Momentum
Bolivian man claims to have lived for 123 years thanks to quinoa and coca leaves
Reflections On The Supreme Court's Reflections On Sales Tax
NYPD agrees to purge database of people stopped by police
Obama-led drone strikes kill innocents 90% of the time: report
White House sends resolution to Congress asking for approval on Syria strikes
WTC memorial magnificent, but at a steep price