Lew: Raise U.S. Debt Limit by 27 February

Treasury Secretary Jack Lew told Congressional leaders Friday in essence that the full faith and credit of the United States could be in jeopardy after Feb. 27 if lawmakers don’t raise the debt ceiling.

That’s when Lew now estimates Treasury will run out of special accounting maneuvers to ensure all the country’s bills are paid in full and on time.

A months-long suspension of the debt ceiling ended Friday, and Treasury has already started its financial juggling act.  “We are not confident that the extraordinary measures will last beyond Thursday, February 27,” Lew wrote in a letter to lawmakers.


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