Jack Lew: US could default on debt by 'end of month'

US Treasury Secretary Jack Lew has warned the US may default on its debt by the end of the month if Congress does not raise its borrowing limit.

Lew to Congress: Raise debt ceiling before mid-October

The United States will reach the limit of its borrowing authority in mid-October, Treasury Secretary Jack Lew said Monday.

Lew says stubborn Congress risks repeating U.S. fiscal wounds

(Reuters) - U.S. Treasury Secretary Jack Lew on Sunday warned Congress against manufacturing a crisis over federal spending in the months ahead, as looming deadlines set the stage for a repeat of the political deadlock which two years ago triggered worldwide financial market turmoil.