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Treasury Secretary Jack Lew: Obama can’t stop default if debt ceiling is hit
Question of the Day
“The president does not have the authority to take action in that kind of a way,” Mr. Lew said on CNN’s “State of the Union” when host Candy Crowley asked if the White House could unilaterally take any action to keep the government solvent.
“The president consulted with his lawyers, and that’s the conclusion that he’s reached,” Mr. Lew, a former White House chief of staff, said.
“You know, there is a desire here for there to be some kind of a magic solution,” he said. “There is an easy solution. … A majority in Congress would do the right thing if given a chance to vote to open the government. A majority in Congress would do the right thing if given a chance to let us pay our bills. Congress needs to work, they need to do their job, but the majority needs to be given a chance.”
Sen. Ted Cruz, appearing on the same program a few minutes later, was skeptical of the worst-case scenario depicted by Mr. Lew.
“Three times you asked him directly, ‘Come Oct. 17, will the United States default on its debt?’” Mr. Cruz, Texas Republican, said to Miss Crowley. “And three times he avoided answering. And the reason is the answer is ‘Of course not.’”
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
David Eldridge joined The Washington Times in 1999 and over the next seven years helped lead the paper’s coverage of regional politics and government, Sept. 11, and the sniper attacks of 2002. In 2006, he was named managing editor of the paper’s website. He came to The Times from the Telegraph in North Platte, Neb., where he served as executive ...
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