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AUG 22, 2013 - MarketWatch

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Treasury Sec. Lew urges action on debt ceiling

WASHINGTON (MarketWatch) -- Treasury Secretary Jack Lew urged Congress to lift the debt ceiling Thursday, in a fresh warning. "It is important to note that the debt limit has nothing to do with new spending. It has to do with spending that Congress has already approved and bills that have already been incurred. Failing to raise the debt limit would not make these bills go away. It would, though, have disastrous effects for our nation," Lew said. He said Congress shouldn't wait until "some unknowable last minute" to resolve the matter, saying "we cannot afford another unnecessary ... Read More

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