Lew says worried about possible miscalculations on debt ceiling
WASHINGTON Oct 10 (Reuters) - U.S. Treasury Secretary Jack Lew told lawmakers on Thursday he very much fears there could be miscalculations regarding the nation's debt ceiling and that there would be a crisis if Congress fails to act on it "sooner rather than later."
Lew said it was "impossible to predict with accuracy" exactly when the United States would run out of borrowing capacity. So far, officials have pointed to Oct. 17 as the estimated deadline.
"With the debt limit, if you look for the last minute and you make a mistake, you've done serious damage to the U.S. economy, the world economy ... It's reckless," he said at a Senate hearing.
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