Treasury Secretary Jack Lew is scheduled to testify on the potential consequences of breaching the debt ceiling before the Senate Finance Committee today at 8 a.m. ET, the committee announced.
Lew urged Congress to increase the United State’s borrowing authority before the Oct. 17 deadline in a USA Today op-ed last week, warning that the stock market could tumble and that Americans who rely on Social Security, Medicare and other assistance programs will be adversely affected if the country can’t pay its bills.
Catherine Thompson is a senior editor for Talking Points Memo in New York City. She came to the site in 2013 and reported on national affairs. Previously, she worked as a research assistant to investigative reporter Wayne Barrett. She can be reached at email@example.com.