Industry leaders urge Congress to raise the nation's debt limit

08/17/2009 | Politico (Washington, D.C.)

Business leaders are calling on lawmakers to raise the cap on the nation's debt limit. "This action is needed to maintain confidence in the full faith and credit of the U.S. government and prevent uncertainty that would hinder our economic recovery," Financial Services Roundtable President and CEO Steve Bartlett said in a letter to House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev. "Inaction would undermine investor confidence in our financial markets, both at home and abroad." Treasury Secretary Timothy Geithner has been meeting with business groups in hopes of gaining support in his effort to get Congress to lift the limit.

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