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OMB Director: ‘Not an Option’ for No Debt Ceiling Hike
Office of Management and Budget director Jacob Lew refused to entertain the possibility that the debt ceiling might not be hiked by August 2. “I’m confident that the responsible leaders of Congress know that is not an option,” he told CNN’s Candy Crowley on State of the Union. Lew admitted that a “fringe” thought that “playing with Armageddon” was a good idea, but said the White House had “no plan other than meeting our obligations.” He said the White House had made no decisions on what to prioritize spending on if the debt ceiling was not raised, saying it was “unacceptable” for the United States to be unable to meet all its spending obligations.

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