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Lew to Boehner: U.S. Runs Out of Cash in 19 Days

Boehner (Bill Clark/Roll Call File Photo)
Boehner (Bill Clark/Roll Call File Photo)

Updated: 1:08 p.m. |  In a new letter to Speaker John A. Boehner, Treasury Secretary Jacob J. Lew has moved up slightly the timetable for action on raising the debt limit.

“Based on our best and most recent information, we now estimate that extraordinary measures will be exhausted no later than Tuesday, November 3,” Lew wrote.  

The third day of the month is when Social Security checks are issued, as was noted in a report Wednesday from the Congressional Budget Office.  

House Minority Leader Nancy Pelosi did not miss the opportunity to put out a statement putting pressure on House Republicans to take Lew’s warning seriously.  

“Our credit rating must not be threatened by the fever that has gripped the Republican Congress.  It’s time for Republicans to end their Calendar of Chaos and join Democrats on a path to progress,” the California Democrat said. “Republicans should bring forward a clean bill to honor the full faith and credit of the United States immediately.”  

Emma Dumain contributed to this report.

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