U.S. Treasury

3:40pm

Thu January 17, 2013
It's All Politics

Some House Republicans Deny Risk Of Default In Debt Ceiling Debate

Originally published on Thu January 17, 2013 4:10 pm

Republican Rep. Tim Huelskamp, shown in June 2012, says the U.S. won't default unless the president chooses to let it happen.
John Hanna AP

The federal government hit its debt limit at the end of last year. Since then, the Treasury Department has been taking what it calls "extraordinary measures" to keep the government funded and avoid defaulting on U.S. obligations.

But those measures will run out sometime between the middle of February and early March. Then it's up to Congress to raise the debt limit.

House Republicans are wrestling with the best strategy at a retreat Thursday and Friday in Virginia. And some have been denying that there is a risk of default if the debt ceiling isn't raised.

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10:26am

Mon January 14, 2013
U.S.

In News Conference, Obama Calls For Raising Debt Ceiling

Originally published on Mon January 14, 2013 1:27 pm

Transcript

DAVID GREENE, HOST:

I'm David Greene. We'll begin NPR's business news with a warning from President Obama.

(SOUNDBITE OF PRESS CONFERENCE)

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2:56pm

Sat January 12, 2013
Analysis

Week In News: The Debt Ceiling Whack-A-Mole

Originally published on Sat January 12, 2013 5:37 pm

Transcript

JACKI LYDEN, HOST:

It's WEEKENDS on ALL THINGS CONSIDERED from NPR News. I'm Jacki Lyden.

(SOUNDBITE OF NEWS REPORTS)

UNIDENTIFIED MAN #1: The Federal Reserve should knit a trillion dollar platinum coin.

UNIDENTIFIED MAN #2: And the government could use that to pay the debt, avoid default and pre-empt the debt ceiling crisis.

UNIDENTIFIED MAN #3: This is the kind of stuff that happens right before the downgrade. The last days of Rome, this is what happened.

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1:44am

Fri January 11, 2013
Economy

Geithner Began With 'Smoldering' Economy; What Does He Leave?

Originally published on Fri January 11, 2013 6:35 am

In this handout image provided by the White House, President Obama talks with Treasury Secretary Timothy Geithner at the United Nations on Sept. 23, 2010.
The White House Getty Images

Outgoing Treasury Secretary Timothy Geithner has had a bruising four years. He took office when the U.S. economy was plunging into the worst recession since the Great Depression.

Nominating Jack Lew as Geithner's successor Thursday, President Obama praised his departing Treasury secretary for helping to get the economy back on track.

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12:14pm

Thu January 10, 2013
The Two-Way

Obama Taps Top Aide Lew For Treasury

Originally published on Thu January 10, 2013 12:57 pm

Jack Lew has been nominated to be the next Treasury secretary.
Mandel Ngan AFP/Getty Images
  • President Obama announces nomination of Jack Lew for Treasury

Saying he "cannot think of a better person" to take the job, President Obama this afternoon formally announced he is nominating Jacob "Jack" Lew, his chief of staff, to be the next Treasury secretary.

Word of Obama's decision to tap Lew, who previously served as budget director in the Obama and Clinton administration, broke Wednesday.

"Jack has my complete trust," Obama said.

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