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Treasury secretary advises lawmakers against destroying the U.S. economy

A US debt default would have dramatic economic repercussions and be “deeply damaging” to financial markets, Treasury Secretary Jack Lew warned lawmakers Thursday a week before a deadline to raise the nation’s borrowing limit. With the clock ticking toward a default that would see the United States fail to pay…

Economists agree: Government shutdown will hurt economic growth

The shutdown of the US government will hit an an economy struggling to sustain its post-crisis rebound, but economists say the impact will only be substantial if it lasts weeks. There was no compromise in sight Monday that could prevent an impasse over a stopgap budget bill from forcing a…