URGENT-U.S. to exhaust borrowing capacity by Oct. 17--lEW

Reuters

WASHINGTON, Sept 25 (Reuters) - U.S. Treasury Secretary JackLew warned Congress on Wednesday that the United States wouldexhaust its borrowing capacity no later than Oct. 17, at whichpoint it would have only about $30 billion in cash on hand.

The fresh estimate came in a letter to congressional leadersin which Lew urged them to move swiftly to raise the nation's$16.7 trillion debt limit.

"If the government should ultimately become unable to payall of its bills, the results could be catastrophic," Lew said.

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