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Treasury Secretary Lew: message from latest budget battle must be 'this won't happen again'
Reported by: Associated Press
Reported: Sunday, October 20, 2013 9:01 AM EDT
Treasury Secretary Jacob Lew says the fight over government spending pushed the country near the brink of default and the lesson has to be that it can't happen again.
An impasse between Obama and Republicans over spending led to a 16-day, partial government shutdown that ended last week.
Lawmakers also pushed the country to the edge of default by threatening the Treasury Department's authority to continue borrowing money to pay the nation's bills.
The situation was temporarily resolved when Congress agreed to reopen the government through Jan. 15 and allow Treasury's borrowing to continue through Feb. 7.
Lew was interviewed on NBC's "Meet the Press."