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BREAKING: U.S. to reach debt limit Saturday!!! Lew asks Congress for debt increase, says it’s ‘not open to debate’


The U.S. will reach its debt limit on Saturday, Treasury Secretary Jacob Lew told congressional leaders in a letter on Friday, but said the U.S. is taking extraordinary measures to keep paying bills. Lew said those measures, including previously announced suspension of sales of state and local Treasury securities, won’t be exhausted until “after Labor Day.”

http://www.marketwatch.com/story/us-to-reach-debt-limit-saturday-lew-2013-05-17-13913025?link=MW_home_latest_news

Lew asks Congress for debt increase, says it’s ‘not open to debate’

Treasury Secretary Jack Lew on Friday urged congressional leaders to raise the debt limit and insisted that the White House is not going to negotiate over the increase because lawmakers have “no choice.”
“We will not negotiate over the debt limit,” Lew wrote. “The creditworthiness of the United States is non-negotiable. The question of whether the country must pay obligations it has already incurred is not open to debate.”
Lew said that while President Obama is willing to discuss plans to reduce the nation’s deficit with Congress, those talks must be kept separate from any effort to raise the nation’s debt cap.

http://thehill.com/blogs/on-the-money/budget/300463-treasury-asks-congress-for-debt-increase-says-its-not-open-to-debate#ixzz2TZkbPOEV

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  • just sayin

    No matter how much we give these fools, It will be wasted on someone else, any thing but to benefit or serve the American needs. It will never be enough.

  • Dave Phillips

    Enjoy the ride into third world irrelevance America, the chickens are coming home to roost for the excesses and manipulations of the past. Power projection going, industrial capacity going, military strength going, credibility gone!!! You might raise a few bucks from a fire sale of your assets in weapons and infrastructure, but not much, keeping in mind the state of American infrastructure is woeful, roads and bridges falling apart, reticulated water networks crumbling away, broken and outdated sewerage systems and vast areas of many cities laid waste by urban blight and dereliction. So will America honourably retire from global power and turn inwards to fix their broken systems or will it lash out in a last spasm of greed driven spite to bring the rest of the world down to their levels?

    • Scott Wood

      I think we can all guess what they will do given the 4…no 5 wars they are currently engaged in.

  • Big M

    Please stop — EVERYBODY!! — with this fucking bullshit about a “debt limit.” There is no “federal” debt limit, and there never has been. What in hell is the point of a “limit” that somebody imposes on themselves, and can remove themselves? How many times have the slimy criminals in CONgress voted to raise this “limit,” anyway? I’d guess at least 20, if not 30 times, during my lifetime.

    The fact that this crap serves as a topic of “serious” debate in this country is a testament to the public “education” system.