Lew Refuses To Commit To Paying America’s Creditors if Debt Ceiling Not Raised

TOOMEY: “The millions of Americans who are investors in U.S. Treasury securities and the entire American economy, that under no circumstances will you permit a missed payment on a U.S. Treasury securities obligation?”
LEW: “Senator, the only way to make sure we pay all of our obligation is for Congress to act and raise the debt limit. No president has ever had to decide whether to pay some bills and not others –“
TOOMEY: “I understand. That’s a different question though.”
LEW: “Law is complicated and I am not the one who makes that decision as you know. I think -- it's not my decision. It is something that the president would have to decide. And I’m telling you that it would be, put us into default if we went to a place where we could pay one bill and not others. What would you say to people on Social Security?”

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TOOMEY: “I certainly hope that the president will work with us so that we can avoid this but, frankly, I’m shocked that the secretary of the Treasury will not assure the financial markets, American investors, and savers and millions of people who hold Treasuries that they don't have to worry about the security of the Treasuries. I’m extremely disappointed.”