Treasury Secretary Lew: “This can never happen again”

Treasury Secretary Jacob J. Lew said the political drama surrounding the debt limit hurt the U.S. economy and must not be repeated.

“We need to make sure that government does not go through another round of brinkmanship,” Lew said on NBC’s “Meet the Press” program airing today. “This can never happen again.”   Even getting close to the breaching the debt ceiling “does do some damage,” Lew said. “But we have a resilient economy.”

President Barack Obama signed legislation Oct. 17, the day Lew said the U.S. would exhaust its borrowing authority, to suspend the debt ceiling until Feb. 7 and end a 16-day partial government shutdown. The 11th-hour deal between Democrats and House Republicans sets the stage for another possible showdown early next year.

Bloomberg

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