Congress Warned Debt Ceiling Options Running Out

Ad Feedback

Debate over the debt ceiling is about to heat up again in the nation's capital.

Treasury Secretary Jacob Lew warned lawmakers that after Friday, Feb. 7, the government will start using extraordinary measures to keep paying its bills.

To avoid default, Lew is urging Congress to increase the debt ceiling.

What will happen if Congress raises the debt ceiling? Phil Kerpen, president of American Commitment, talks about this and more on CBN Newswatch, Feb. 4.

"Unlike other recent periods when we have had to use extraordinary measures to continue financing the government, this time these measures will give us only a brief span of time," Lew said in a speech Monday at the Bipartisan Policy Center.

"Given these realities, it is imperative that Congress move right away to increase our borrowing authority," he added.

Meanwhile, many House Republicans are seeking concessions in exchange for any increase.

Log in or create an account to post a comment.  


Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBN News

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.