Treasury Secretary Jack Lew: Obama can’t stop default if debt ceiling is hit

“The president does not have the authority to take action in that kind of a way,” Mr. Lew said on CNN’s “State of the Union” when host Candy Crowley asked if the White House could unilaterally take any action to keep the government solvent.

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“The president consulted with his lawyers, and that’s the conclusion that he’s reached,” Mr. Lew, a former White House chief of staff, said.

“You know, there is a desire here for there to be some kind of a magic solution,” he said. “There is an easy solution. … A majority in Congress would do the right thing if given a chance to vote to open the government. A majority in Congress would do the right thing if given a chance to let us pay our bills. Congress needs to work, they need to do their job, but the majority needs to be given a chance.”

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