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Investments / The Ticker

Treasury Secretary: America is obligated to pay its bills

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While the government remains shutdown with Congress holding deep discussions on how to move forward, Treasury Secretary Jack Lew took pen to paper and published an editorial in USA Today, insisting that America is obligated to pay its bills. Here is a small excerpt from his editorial:

Some claim that the United States does not need to meet every one of its commitments. They argue that the government could pay certain bills and let others go unpaid without consequences.

The United States cannot be put in a position of having to choose which commitments it should meet. How could we possibly decide among supporting our veterans, maintaining food assistance for children in need, or sending Medicare payments to hospitals?

The United States has met all its financial obligations for more than 200 years. We are a nation that keeps our word. We are a nation that stands behind our full faith and credit.

Source: USA Today
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