Lew worried Congress debt limit wrangling could cause 'accident'

Reuters News
Posted: Oct 21, 2015 9:32 AM

WASHINGTON (Reuters) - U.S. Treasury Secretary Jack Lew said on Wednesday he is worried that brinkmanship in Congress on raising the nation's debt limit could cause an "accident" as the United States edges closer toward default.

Speaking at a policy conference in Washington, Lew also said the risk of an unforeseen circumstance would rise if Congress did not act in time, adding that the debt limit issue should not be used as a weapon in negotiations on a separate budget deal.

The United States is currently scraping just under its $18 trillion legal debt cap and the Treasury Department expects to exhaust its borrowing authority by Nov. 3.

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(Reporting by Lindsay Dunsmuir; Editing by Paul Simao)