Summit Notebook

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U.S. Treasury’s Wolin on tying debt limit to fiscal discipline debate: Don’t


Deputy Treasury Secretary Neal Wolin is urging lawmakers not to tie the U.S. debt limit to the debate on fiscal discipline.

Arguing about the future fiscal path of the United States is fine, but playing games with the debt limit can hurt U.S. creditworthiness, he warned. FINANCE-SUMMIT/WOLIN

The Treasury has said it will reach the statutory debt limit sometime between April 5 and May 31. Once that limit is reached, the Treasury would no longer borrow to meet day-to-day spending needs, including payment of interest on Treasury bills and bonds.

Many Republican lawmakers want to use the debt limit as leverage to push the Obama administration into deeper spending cuts.