WASHINGTON, Dec. 19 (UPI) -- 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.