The government may soon be taking “extraordinary measures” to finance its expenditures, according to Treasure Secretary Jack Lew. On Friday morning, Lew, along with House Speaker John Boehner and other House and Senate leaders, urged Congress to raise the debt limit as soon as possible as the country is currently on track to hit its maximum debt on March 16. Lew said that “increasing the debt limit does not authorize new spending commitments,” but rather “simply allows the government to pay for expenditures Congress has already approved.”
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