More from Treasury Secretary on

  • It would be catastrophic for US to default and would likely precipitate a crisis.
  • I would plead with Congress to raise debt ceiling as soon as possible
  • I would urge it to be raised or suspended before the approaching deadline
  • Has no specific estimate for how long extraordinary measures would last after the debt ceiling deadline passes
  • We can't tolerate any chance of defaulting on the government debt
  • There is a chance extraordinary measures could expire while Congress is out on August recess