- Thu Jan 23, 2014 3:33 pm
#35362
The U.S. will exhaust its borrowing authority far earlier than Treasury Secretary Jack Lew had estimated, he said in a letter to Congressional leaders on Wednesday.What the fuck?
Lew warned in the new letter that Congress will need to raise the debt ceiling by late February to avoid a potential default on the country's obligations.
"The significantly smaller amount of headroom that can be freed up now will quickly be exhausted by the large obligations of the government that occur in the month of February," Lew wrote
