23 Jan '14, 12pm

US Treasury Secretary Jack Lew says government needs to monitor Bitcoin,

US Treasury Secretary Jack Lew says government needs to monitor Bitcoin,

Treasury and Congress at odds on debt limit timetable Congress should act as soon as possible and make sure there are no more self-inflicted wounds, says U.S. Treasury Secretary Jack Lew, discussing why lawmakers need to act in a timely manner to increase the nation's debt limit so the government can pay its bills. On the issue of the nation's borrowing authority, Lew told CNBC that Congress needs to raise the debt ceiling as soon as possible and not wait until the last minute. The U.S. economy is doing pretty well, and lawmakers should avoid another self-inflicted wound to growth, he said. In a letter to congressional leaders, Lew warned the government would likely run out of borrowing authority by late next month, if lawmakers do not act swiftly to raise the federal debt ceiling. The Treasury can use so-called "extraordinary measures" to forestall default, but those meas...

Full article: http://www.cnbc.com/id/101357809

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