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Treasury Secretary Jack Lew on Friday urged congressional leaders to raise the debt limit and insisted that the White House is not going to negotiate over the increase because lawmakers have "no choice."
"We will not negotiate over the debt limit," Lew wrote. "The creditworthiness of the United States is non-negotiable. The question of whether the country must pay obligations it has already incurred is not open to debate."
Lew said that while President Obama is willing to discuss plans to reduce the nation's deficit with Congress, those talks must be kept separate from any effort to raise the nation's debt cap.
The letter comes as the debt limit is set to take effect on Sunday, after being suspended for three months by Congress. The last time the nation approached its $16.4 trillion borrowing limit, lawmakers agreed to suspend the borrowing cap, and then to automatically raise it to cover borrowing subject to the limit that occurred during that three-month stretch.Read the rest HERE.
Lets hope Congress HAS THE AGGIES to tell Team Obama that yes, It isn't open to debate and no, we won't raise the debt limit.