Jack Lew Warns Congress Over Debt Ceiling

[Purveyor]

Source: CNN

Congress has been fighting over the Iran trade deal, a highway bill and Puerto Rico's debt crisis.

On Wednesday, Treasury Secretary Jack Lew sent legislative leaders a little reminder about another contentious item: the debt ceiling.

Lew's basic message was that the debt ceiling needs to be raised, and the sooner the better.

But if "soon" isn't on the agenda, Treasury's special accounting measures, in use since March, will likely buy lawmakers until at least mid-fall before they have to act.

Read more: http://money.cnn.com/2015/07/29/news/economy/jack-lew-debt-ceiling/

[geek tragedy]

1. not this shit again nt

[bluestateguy]

2. At this point in his presidency

Obama can just invoke the 14th Amendment, ignore the so-called (and unconstitutional) debt ceiling and dare them to stop him (which they can't).

BUT, the Wall Street crowd (whom Republicans depend upon for money) has made it very clear that they will not tolerate debt ceiling shenanigans. So it likely will never get to that point.

[Dont call me Shirley]

3. Oh, here goes the gop clown car again. Oh gawd.