Lew: U.S. borrowing authority may not go past Feb. 27

House Republicans say they want concessions in exchange for raising the debt limit, though theyve been unable to agree on exactly what.

By Derek Wallbank and Kasia Klimasinska | Updated on February 07, 2014

Feb. 7 (Bloomberg) — Treasury Secretary Jacob J. Lew said U.S. borrowing authority may not last past Feb. 27 and urged Congress to raise the debt ceiling as soon as possible.

Extraordinary measures begun Friday by the Treasury to remain under the debt limit “are likely to be exhausted in less than three weeks,” Lew said in a letter to House Speaker John Boehner, an Ohio Republican.

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