Congress turns attention to debt limit battle
By Rachelle Younglai and Richard Cowan
WASHINGTON (Reuters) - The Congress, struggling to avert a government shutdown next week, was warned by the Obama administration on Wednesday that the Treasury was quickly running out of funds to pay government bills and could soon face a damaging debt default.
Treasury Secretary Jack Lew pleaded with Congress to raise the $16.7 trillion debt limit and said the government would not be able to borrow funds past October 17.
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