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WARNING U.S. to Run Out of Money Soon Manan Vatsyayana/AFP/Getty

U.S. to Run Out of Money Soon

Talk about a spoiler. Treasury Secretary Jacob Lew sent a letter to Congress Wednesday morning declaring that the U.S. will no longer be able to pay its bills after October 17, unless the debt ceiling is raised. The announcement by Lew is the first time the administration has given a specific deadline. Many are watching Congress with trepidation, as it appears the two sides are nowhere near close to coming up with a solution to the impasse over the debt limit.

Does this sound familiar? It's because it is.

September 25, 2013 10:36 AM