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

Treasury Secretary Says Budget Fight 'Got Close To Edge'

Posted: Updated:

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 This material may not be published, broadcast, rewritten or redistributed.)

  • ContestsMore>>

  • VP Shoes Back to School Contest

    VP Shoes Back to School Contest

    Friday, August 15 2014 12:02 AM EDT2014-08-15 04:02:20 GMT
    Winner announced on WMDT 47 News at 12PM on 8/22/14 No purchase necessary. Void where prohibited by law. Odds of winning dependent on number of entries received. Contest Dates: August 15, 2014 – AugustMore >>
    Winner announced on WMDT 47 News at 12PM on 8/22/14 No purchase necessary. Void where prohibited by law. Odds of winning dependent on number of entries received. Contest Dates: August 15, 2014 – AugustMore >>
  • Teacher Who Makes A Difference

    Teacher Who Makes A Difference

    The WMDT 47 Teachers Who Make a Difference Contest is Sponsored by Accurate Optical: "Encouraging children of all ages to come in for an annual eye exam to help them see better in school." Each month weMore >>
    The WMDT 47 "Teachers Who Make a Difference" Sponsored by Accurate Optical Encouraging children of all ages to come in for an annual eye exam to help them see better in school.More >>
  • Free Tuition Contest

    Free Tuition Contest

  • Most Popular StoriesMost Popular StoriesMore>>

  • Good 'Ole Boy Foundation Grants Young Boy's Wishes

    Good 'Ole Boy Foundation Grants Young Boy's Wishes

    Monday, August 18 2014 11:10 PM EDT2014-08-19 03:10:30 GMT
    MILLSBORO, Del.- Liam like many five year- olds has no shortage of smiles, and plenty of love.However, when most other little boys are playing at this age, little Liam spent the last couple years fighting for his life.More >>
    MILLSBORO, Del.- Liam like many five year olds has no shortage of smiles, and plenty of love.
    However, when most other little boys are playing at this age, little Liam spent the last couple years fighting for his life.
    More >>
  • Delmarva Restaurateur In Critical Condition

    Delmarva Restaurateur In Critical Condition

    Tuesday, August 19 2014 11:50 PM EDT2014-08-20 03:50:19 GMT
    47ABC- Popular Delmarva restaurateur Matt Haley is in critical condition after a devastating crash during a six week mission trip through India and Nepal.More >>
    47ABC- Popular Delmarva restaurateur Matt Haley is in critical condition after a devastating crash during a six week mission trip through India and Nepal.More >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.