Nation & World News

Treasury Secretary: Congress Must End Uncertainty On Debt

By Scott Neuman on July 29th, 2013

Treasury Secretary Jack Lew says the debt ceiling needs to be raised, but without another economically damaging partisan fight.

In a series of interviews on the Sunday morning political talk shows, Lew said Congress needs to lift the “cloud of uncertainty” over the nation’s finances and raise the limit before it fully expires on Sept. 30.

“The fight over the debt limit in 2011 hurt the economy, even though, in the end, we saw an extension of the debt limit,” the secretary said on NBC’s Meet The Press.

“We saw confidence fall, and it hurt the economy. Congress needs to do its job. It needs to finish its work on appropriation bills. It needs to pass a debt limit,” he said.

Republicans have demanded deep cuts in non-defense-related spending in exchange for an appropriations deal. Some Democrats, however, don’t want to agree to funding at levels set by across-the-board spending cuts that went into effect in March.

Lew’s remarks echo a message that President Obama has taken up in recent days.

Speaking in Florida on Thursday, Obama said that if Republicans want to continue their “My way or the highway attitude,” dire consequences and deadlock were likely to result. “It could plunge us back into financial crisis,” he said.

“Threatening that you won’t pay the bills in this country, when we’ve already racked up those bills, that’s not an economic plan — that’s just being a deadbeat,” he said.

Copyright 2013 NPR. To see more, visit

This entry was posted in News from NPR. Bookmark the permalink.

Comments are closed.


More Stories in News from NPR

Oregon Shooter’s Death Was Suicide, Authorities Say

The local sheriff, speaking at an afternoon news conference, also said that authorities had recovered yet another gun from the shooter’s residence, bringing to 14 the number of weapons linked to him.

Vatican Fires Priest After He Comes Out As Gay Ahead Of Bishops’ Meeting

Monsignor Kryztof Charamsa appeared at a news conference with his partner. In an interview he called the Church’s stance on homosexuality “backwards.”

This undated photo from a MySpace page that appeared to belong to Chris Harper Mercer shows him holding a rifle. Authorities identified Mercer as the gunman who went on a deadly shooting rampage at Umpqua Community College in Roseburg, Ore., on Thursday.

What We Know About The Oregon Shooter

Authorities say they still don’t have a motive for the shooting rampage at Umpqua Community College that killed 9 people and wounded 9 others.

People watch the waves in a rainstorm at Atlantic Ocean at Carolina Beach, N.C., on Friday. Millions along the East Coast breathed a little easier after forecasters said Hurricane Joaquin would probably stay at sea instead of joining up with a drenching rainstorm that is bringing severe flooding to parts of the Atlantic Seaboard.

State Of Emergency Declared In South Carolina, As Joaquin Barrels Northeast

The storm looks likely to stay well offshore the U.S. East Coast, but it is still dumping historic levels of rainfall on cities like Charleston. Meanwhile, Bermuda could be in Joaquin’s crosshairs.

On May 21, an Afghan child is being treated at a Doctors Without Borders hospital in the northern city of Kunduz, after being injured in a fight between the Taliban and Afghan security forces.

Kunduz Airstrike Reportedly Kills 19 At Doctors Without Borders Hospital

A trauma center in northern Afghanistan run by the international aid group was badly damaged early Saturday at about the same time as a U.S. airstrike in the area.

Thank you for your support

WUFT depends on the support of our community — people like you — to help us continue to provide quality programming to North Central Florida.
Become a Sustainer
I want to support FM 89.1/NPR
I want to support Florida's 5/PBS
Donate a Vehicle
Underwriting Payments