Secretary Lew, Republicans, Stake out Positions


The government is in a partial shutdown and another financial deadline is fast approaching in the debt ceiling, but Congressional Republicans and the White House still seem many miles apart.

Treasury Secretary Jack Lew warned that should the US default on its debt payments, "no question, it would cause real problems."

"The consequences are immediate," Lew said.

Lew said it's up to Congress what it decides to do in terms of how long a lift in the debt ceiling should cover but that the "economy would be well served with long term solution."

Lew also reiterated that the president is unwilling to negotiate over reopening the government or in raising the debt limit.