Treasury Secretary Says Budget Fight 'Got Close To Edge' - 47 ABC - Delmarva's Choice

Treasury Secretary Says Budget Fight 'Got Close To Edge'

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WASHINGTON (AP) - Treasury Secretary Jacob Lew says the fight over government spending pushed the country near the brink of default and the lesson has to be that it can't happen again.

Lew says this latest battle was scarier than a 2011 budget fight because it got "so close to the edge."

An impasse between Obama and Republicans over spending led to a 16-day, partial government shutdown that ended last week.

Lawmakers also pushed the country to the edge of default by threatening the Treasury Department's authority to continue borrowing money to pay the nation's bills.

The situation was temporarily resolved when Congress agreed to reopen the government through Jan. 15 and allow Treasury's borrowing to continue through Feb. 7. 

Lew was interviewed on NBC's "Meet the Press."

 

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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