Secretary Jack Lew Makes New Warning On Debt Ceiling
Description: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). "This amount would be far short o(0:35)