Jack Lew: Federal debt limit must be raised no later than early March

[Redfairen]

U.S. Treasury Secretary Jack Lew Thursday notified Congress the federal limit on borrowing will need to be raised no later than early March.

Lew informed Congress in a letter the Treasury Department can, as it has done before, use extraordinary measures to keep paying obligations after Feb. 7. However, he said he can see no "reasonable scenario" under which the department can sustain that for more than a few weeks, the Hill reported.

The debt limit was suspended this fall as part of an agreement in Congress to reopen the federal government following a shutdown.

Lew urged Congress to raise the debt limit "at the earliest possible moment" to alleviate the threat the federal government might default on its obligations. He noted Congress just passed a bipartisan two-year budget deal and said raising the debt ceiling will "protect the full faith and credit of the United States."

http://www.upi.com/Top_News/US/2013/12/19/Lew-US-debt-limit-must-be-raised-by-early-March/UPI-35121387495880/?spt=rln∨=1

[BlueStreak]

1. Pushing teabaggers to stake out a position as they go back to the districts

Obama wants to keep the civil war going. Boehner has had enough of those little weasels, and Obama wants to finish them off by getting them to try to make Boehner walk the plank on the debt ceiling.

The timing is interesting. Lew could easily have left this until after the holidays, My guess is he wanted to stir up the shit a little as the teabaggers go back to their districts.

[davidpdx]

2. It could be a good cop/bad cop job by Obama and Lew

Knowing that the Teabaggers are dumb enough to fall for it.

[Rosco T.]

3. Raised.... or eliminated...

.. we shall see.