(Reuters) – Treasury Secretary Timothy Geithner said on Wednesday that Congress will allow the country to borrow more by agreeing to increase the $14.3 trillion debt limit.
“Congress will pass an increase in the debt limit,” Geithner told PBS Newshour.
Republicans have said they are unwilling to raise the debt ceiling without some reforms to the government spending.
Geithner said there were some lawmakers who want to take debt ceiling negotiations “to the brink” and warned that the United States could not take that risk.
“So you want Congress to move as quickly as possible to raise that, and of course, they recognize that they have to do that,” he said.
Treasury has forecast that the limit will be reached by May 16. After that point, Treasury can take emergency measures to avoid hitting the debt ceiling. But those actions will only give the United States about a two-month window before Treasury is unable to issue debt to fund government operations. (Reporting byÂ Glenn Somerville andÂ Rachelle Younglai; Editing by Jan Paschal)
Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!
We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.