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 http://www.npr.org/.

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

Comments are closed.

 

More Stories in News from NPR

Bob Schieffer on the set of Face the Nation in September.

CBS’ Bob Schieffer Retires Sunday As Last Of The Old-School TV Anchors

Bob Schieffer, anchor of CBS’ Face the Nation, retires Sunday after 46 years at the network. NPR TV Critic Eric Deggans says Schieffer is the last among a vanished breed of traditional news anchors.


FIFA Scandal Has Echoes Of Salt Lake Olympics Corruption Crisis

Officials of both organizations were accused of taking bribes. Leaders of both said they couldn’t watch subordinates’ behavior. Persistent outsiders found evidence of misconduct.


Anthrax Was Accidentally Sent To 11 States, 2 Countries, Pentagon Now Says

The numbers are more than the Pentagon’s Thursday estimate of nine states and a U.S. Air Force base in South Korea. News organizations named Australia as the other country that received the samples.


Former House Speaker Dennis Hastert speaks in Washington on July 28, 2009, following the unveiling of his portrait.

Reports: Ex-Speaker Hastert’s Payments Linked To Sexual Misconduct

Both The New York Times and the Los Angeles Times are reporting that Hastert was paying a man to not reveal that Hastert had abused him years ago.


Tex Toler watches the Llano River rise Friday in Llano, Texas, after another round of heavy rains that have brought flooding and deaths to the state.

Death Toll In Southern Plains Flooding Rises To 25

“There has been enough rain across Texas during May to cover the entire state nearly 8 inches deep,” says the National Weather Service in Fort Worth.


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