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Sunday, October 06, 2013

Treasury Secretary Jack Lew: Obama Can’t Stop Default If Debt Ceiling Is Hit

Treasury Secretary Jack Lew said Sunday that President Obama does not have any power to avoid default if Congress fails to raise the debt ceiling before Oct. 17.

“The president does not have the authority to take action in that kind of a way,” Mr. Lew said on CNN’s “State of the Union” when host Candy Crowley asked if the White House could unilaterally take any action to keep the government solvent.

“The president consulted with his lawyers, and that’s the conclusion that he’s reached,” Mr. Lew, a former White House chief of staff, said.

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5 comments:

Anonymous said...

The United Stets will still pay the bills for the massive dent we have incurred...this is all a bunch of garbage..the mail still goes through..we can still defend our country...political posturing!!!

Anonymous said...

No, but Harry Reid can! But he won't. The House has voted to fund the government as usual, and Harry said no like a petulant child, ignoring the 80+% of us who want Obamacare defunded.

Anonymous said...

To him, it doesn't matter if or not he has "the authority".

Anonymous said...

Let it hit. It should have never been allowed to get so high. The politicians think they've got it made but eventually they're money will be meaningless as well. Without the American worker nothing works.

Anonymous said...

Jack Ass knows nothing outside of a class room. Keep printing money and telling your version of the truth. Report to dear leader that his final vision as dictator of the usa is near!

I will not comply!!!!!!