President Obama's team warns congressional Republicans about the debt ceiling

If there's a debt ceiling showdown between President Obama and congressional Republicans, it probably won't happen until after Labor Day.
Treasury Secretary Jack Lew notified House Speaker John Boehner, R-Ohio, on Friday that the government can take "extraordinary measures" to continue paying the nation's bills for more than three months.
"It is now clear that the measures will not be exhausted until after Labor Day," Lew wrote.
He also told Boehner that Congress should act to raise the debt ceiling as soon as possible in order to "avoid the potentially catastrophic consequences of failing to act until it is too late."
A 2011 debt ceiling showdown led the nation to the brink of default; Standard & Poor's responded by downgrading the nation's long-term credit rating for the first time.
Some congressional Republicans have said only a restriction in the debt ceiling can restrain government spending; Lew and other officials said the ceiling permits legal borrowing for debts that have already been accrued.
The nation's debt now exceeds $16.7 trillion.
In his letter to Boehner, Lew echoed Obama's past comments that he would not negotiate with Congress over an increase in the debt ceiling.
"The creditworthiness of the United States is non-negotiable," Lew wrote. "The question of whether the country must pay obligations it has already incurred is not open to debate."
Boehner's office did not comment on Lew's letter.http://www.usatoday.com/story/news/politics/2013/05/17/obama-lew-boehner-debt-ceildinh/2202975/

BIX WEIR

A showdown is approaching in Washington. It's a frontal assault on the Bad Guys and a plan to END the GAME. It started way back in 2008 and was put on hold until now. It has to do with EVERYTHING I've analyzed on the Road to Roota and it comes down to this...
 
WHO HAS THE POWER IN AMERICA?!
 
This showdown is going to be over the Debt Ceiling.
 
Lew: Debt Ceiling will Hit After Labor Day
 
All the Good Guys need is "a little chaos" right now to tip the overloaded apple cart called our economic system. That's it. Just a little nudge will cause the cascade to begin again.
 
As I've shown, the plan all along was to run the unbacked fiat monetary system at full throttle until it was no longer in the interest of the United States and then to crash the system. This plan has been exposed on the Road to Roota in articles such as these:
 
Public Road:
Why the US is Trying to Destroy the Dollar
 
Private Road:
New Gold Backed Currency Update
 
This week's Friday Road Trip will address "mainstream" silver and gold market analysis and how the Banks managed to offload their gigantic short at the perfect time. It's scary to think that the silver investors, US Congress, regulators and BANKS will want the price of gold and silver to skyrocket very soon.
 
Remember, if you are long your maximum loss threshold is 100% of your investment.
 
If you are SHORT your maximum loss threshold is INFINITY!
 
May the Road you choose be the Right Road.
 
Bix Weir