Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Connected Government
- Consolidating Mission-critical Systems
- Constituent Servicing
- The Data Privacy Imperative: Safeguarding Sensitive Data
- Eliminating the Pitfalls: Steps to Virtualization in Government
- Federal Executive Forum
- Federal Tech Talk
- Government Cloud Brokerage: Who, What, When, Where, Why?
- Government Mobility
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mobile Device Management
- The Modern Federal Threat Landscape
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- Satellite Communications: Acquiring SATCOM in Tight Times
- Transformative Technology: Desktop Virtualization in Government
- Understanding the Intersection of Customer Service and Security in the Cloud
Shows & Panels
Lew warns of dangers if borrowing limit not raised
Monday - 10/7/2013, 1:30pm EDT
AP Economics Writer
WASHINGTON (AP) -- Treasury Secretary Jacob Lew says it will be "dangerous" and "reckless" for Congress to pass an October deadline without raising the government's borrowing limit.
Lew said Sunday that on Oct. 17 the government will lose the capacity to borrow because he will have exhausted all the extraordinary measures he has been using since May to free up room for more borrowing. He said the government has never before lost its borrowing ability.
In a CNN interview, Lew said that the government will have about $30 billion of cash on hand, but he said this was not a "responsible amount of cash to run the government on."
He called on Congress to raise the $16.7 trillion borrowing limit before the deadline to avoid damage to the government's credit standing.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.