Jack Lew says that the administrations latest estimates is that the US will exhaust borrowing capacity no later than October 17.
- US will only have about $30bn in cash at hand when capacity reached
- Net expenditures on certain days can be as high as $60bn
- Any plans to prioritise government payments over others is simply default by any other name
- Results could become catastrophic if government becomes unable to pay all of its bills
Coming your way soon
