Treasury Secretary Jacob Lew to GOP: Raise debt ceiling immediately after recess

Treasury Secretary Jacob Lew tried to take the looming fight over the debt ceiling to Republicans on Thursday, challenging them to raise the limit without conditions as soon as they return from thwie August recess.

“I am calling on Congress today to raise the debt ceiling as soon as members get back to Washington after their summer recess,” Lew said in a speech to the Commonwealth Club of California in Mountain View.

Lew warned that the economy might not be able to weather another confrontation over the debt ceiling like the one in 2011, saying “we cannot afford another unnecessary self-inflicted wound.”

The Treasury bumped up against the debt ceiling in May, leaving publicly held debt at just under $16.7 trillion. By law, the Treasury cannot issue debt above that amount without congressional authorization.

Since May, the Treasury under Lew has taken measures to ensure that the federal government meets its obligations without accruing new debt. The Bipartisan Policy Center has estimated that the Treasury will exhaust those options and become unable to make payments on interest on the debt and other bills sometime between mid-October and mid-November. At that point, the government would risk defaulting on its debt, which would destabilize U.S. and world financial markets.

Via: Washington Examiner

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OBAMA MUST GO

In the past couple of weeks I have been called out by a number the readers on the topic of my weekly blog postings. Their main concern was that my reporting on the presidential primary season has been conspicuously absent. The only response I have is “Guilty as Charged”.  And with that said I would like to explain my logic. The subjects that I have been concentrating on are the happenings within the Obama Administration and the destruction they are serving up on a daily basis.


I have discussed Obamacare, jobs, ACORN and many others. This has been a well-planned out strategy to address the issues that are facing this country and meet them head on.  We can talk about the presidential primary season at length if needed but we already know that we want Obama out of the White House. Anything that I can say about the primary process pales on comparison to the information that Americans need to know about the subjects that they will not read in the main stream media.


I am doing what I feel is necessary to dethrone Obama from his imperial Presidency in any way that I can.  You could say that I am a one man army capable of anything, but this is not the case.  I am counting on all the people to fight the cause as hard as I am. During the Bush presidency the press did not have any trouble blasting him at every corner no matter what he did good, bad, or indifferent.  The liberal press is not following the same logic when it comes to Obama and his band of merry men and women.  They have ignored his American killing policies at every turn.  They have turned him into a hero of the people which is the farthest from the truth that you can get.


His latest antics have caused many of us anguish and concern with his usurping of Congress and the Constitution. He has named four more of his radical friends to positions in the Consumer Financial Protection Bureau and the NLRB all in the name of expediency, total control and politics to further his “I can do anything I want and who’s going to stop me” campaign. But in the name of fairness I have to give him credit for his asking Congress to consolidate six agencies into one, eliminate the Department of Commerce and save us $300 Billion over 10 years.  This equates to savings of about 1/400 of the $1.2 trillion increase in the debt limit that the president is seeking from Congress.  This is perfect timing as it gives him another blank check to spend until after the November election. And by the way the 1000 to 2000 jobs that this consolidation will eliminate through attrition are small potatoes compared to the 200,000 plus jobs he has added since taking office.  It’s up to you to decide if this is an election ploy or he is doing this for the good of “We the People”.


This past week has seen him replace his Chief-of-Staff again (This is number 3).  He has picked none other than Jack Lew, another Wall Street insider who reaped millions in benefits from his past employers by betting against the collapse of the housing market.  If that weren’t enough to handle, he has promoted Cecilia Munoz as Director of the Domestic Policy Council.  She came to the White House in 2009 from The National Council for La Raza which has strong ties to ACORN, SEIU, and George Soros.  It is any wonder that this president has used “We need four more years to finish what we started” in his never ending campaign. 


I have done my best to keep people informed of the little things that the White House has done and kept below the radar by the liberal press.  Now it is your job to pass this information to others and do what is right for this country by electing a Republican as next President of the United States.  It is up to us to do the right thing and win this country back from those that are intent on destroying us.
© Nick Steven – Politics are Real