Lew Says U.S. Will Reach Debt Limit By Nov. 5

The Treasury Department is likely to exhaust its "extraordinary measures" to keep borrowing "on or about" Nov. 5, Treasury Secretary Jacob Lew told lawmakers in a letter Thursday. In an earlier letter, Lew had said the government would be able to stay under its debt limit briefly past late October. Lew urged lawmakers to raise the debt limit "as soon as possible." The nonpartisan Congressional Budget Office has said the Treasury would exhaust borrowing ability between mid-November and early December if the debt limit isn't raised.