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>> JACK LEW Latest News

OCT 15, 2013 - Business Insider

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Jack Lew's Main Contribution To The Debt Ceiling Debate Was Some 'Sleight Of Hand' About Doom

Treasury Secretary Jack Lew has warned that the U.S. will hit the debt ceiling on October 17. And this has much of the news-following world confused and totally freaked out that the U.S. will default on its obligations this Thursday. However, many economists like Morgan Stanley's Vincent Reinhart have repeatedly warned that any default would come at the end of the month at the earliest. To clarify, the debt ceiling is when the U.S. Treasury will no longer have the authority to borrow money by issuing bonds. However, it will still have around $30 billion in cash to continue financing its ... Read More

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