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This is a discussion on Here we go again . . within the Current Events forums, part of the Tech Support Forum category. Treasury Secretary Jacob Lew told Congress on Friday that he will start using the package of emergency measures he has


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Old 03-06-2015, 02:04 PM   #1
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Treasury Secretary Jacob Lew told Congress on Friday that he will start using the package of emergency measures he has used in the past to keep the federal government from going over the debt limit next week.

The debt limit has been suspended for the past year, meaning that Treasury could borrow as much as it needed to keep the government running. But the limit will go back into effect on March 15 at whatever level of debt exists at that point.

The nation's debt currently stands at $18.1 trillion.

Treasury can employ certain accounting measures to buy time to keep the government operating without facing a costly default on the nation's debt.
Contrary to Boehner and McConnell statements, Teddy and the Cruzers will run it right up to a default, forcing cooler heads to step in and pull off another Democratic game save, once again making Boehner look like a damn fool.

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https://finance.yahoo.com/news/lew-te...164302316.html
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Old 03-06-2015, 02:14 PM   #2
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OMG Ground Hog Day again. The problem is the obstructors never learn because the voters never make them pay for their obstruction.
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Old 03-08-2015, 12:32 PM   #3
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Senate Majority Leader Mitch McConnell said Sunday that the Republican-controlled Congress won’t shut down the federal government or allow it to default as the Treasury Department quickly approaches its so-called “debt ceiling.”

“I made it clear after November that we won’t shut down the government or default on debt,” the Kentucky Republican told CBS’ “Face the Nation.”

McConnell’s promise came two days after Treasury Secretary Jack Lew told Capitol Hill that the government loses its authority after March 15 to borrow money to cover approved congressional spending and that his agency would have to resort to “extraordinary measures” as a short-term solution.

To be sure, McConnell acknowledged after winning a tough midterm election bid that voters were tired of an ineffective Congress that too often teetered on shutting down the government over bipartisan issues.

“I hear your concerns,” McConnell said in his victory speech.

Still, Congress came perilously close in recent weeks to at least partially closing the Department of Homeland Security when Republicans tried to tie funding for the agency to efforts to roll back President Obama’s executive actions on immigration.
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McConnell also told CBS on Sunday that Congress will handle the issue “over a period of months” and that he has a responsibility to work with President Obama, despite their political differences.

He also said he is “very optimistic” about potential compromises with Obama on some issues.

“The American public wants us to look at what we can agree on,” McConnell said.

It was a standoff over the debt limit in August 2011 that prompted the first-ever downgrade of the nation's credit rating by Standard & Poor's, and in October 2013 there was a 16-day partial government shutdown.

Bold mine

We'll see if Teddy and the Cruzers agree! !

McConnell sticks to vow about no government shutdown as deadline nears for debt ceiling | Fox News
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