Lew sounds another warning about raising debt limit

|By:, SA News Editor

Jacob Lew has again warned about the perils of not raising the $16.7T debt limit, saying the government would start defaulting on its obligations "very soon" after it uses up whatever extraordinary measures it has available once the cap is reinstated on Friday.

From that point, the Treasury will be able to juggle the money about for a bit to stave off a default before running out of cash.