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Lew Says US Could Face Default

Lew says he can juggle the books until late February or early March. After that, the US could face default and that could hurt the economy as its trying to recover.
In what looks like the first shot in another money battle in Washington, Treasury Secretary Jack Lew has issued a new deadline for the debt ceiling.

He has warned Congress that the US will hit that ceiling on February 7th.

That means that the country can't borrow any more money to finance the government.

Lew says he can juggle the books until late February or early March. After that, the US could face default and that could hurt the economy as its trying to recover.
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