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Tuesday, December 6, 2016

U.S. Treasury: No Room To Move Under Debt Cap

U.S. Treasury: No Room To Move Under Debt Cap

Washington (AFP) – The Treasury Secretary Jacob Lew warned Wednesday that the government will have no more flexibility after October 17 to operate under the U.S. debt cap.

Lew told Congress that after months of juggling spending to meet government commitments without added borrowing, those “extraordinary measures” will be exhausted by that date, leaving the Treasury with only $30 billion in cash to meet ever-mounting demands.

Photo Credit: AFP/Saul Loeb

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