The debt limit deadline will hit Congress sooner than previously anticipated, as Treasury Secretary Jack Lew told lawmakers Thursday he would be out of maneuvers on Nov. 3.
In a new letter sent to lawmakers, Lew said he expects Treasury will have exhausted its “extraordinary measures” to operate under the borrowing cap two days earlier than he previously forecast. Lew told lawmakers at the beginning of October he thought he could free up space underneath the $18.1 trillion borrowing cap until Nov. 5.
