Jack Lew To Congress: Debt Limit Will Be Reached On Oct. 17

Secretary of the Treasury, Jack Lew says debt ceiling will be reached Oct. 17

huffingtonpost.com - by Luke Johnson - September 25, 2013

WASHINGTON -- The debt ceiling will be reached Oct. 17 and the Department of the Treasury will have less cash on hand than it previously estimated, said Secretary Jack Lew in a letter released Wednesday.

"Treasury now estimates that extraordinary measures will be exhausted no later than October 17. We estimate that, at that point, Treasury would have only approximately $30 billion to meet our country's commitments," he said in a letter to House Speaker John Boehner (R-Ohio).

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