Bernanke prods Congress to raise debt ceiling

January 14, 2013 • Business

Federal Reserve Chairman Ben Bernanke speaks at Rackham Auditorium on Monday, Jan. 14, 2013, at the University of Michigan in Ann Arbor, Mich. (AP Photo/, Daniel Brenner) LOCAL TV OUT; LOCAL INTERNET OUT

WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke said Monday that it’s important that Congress raise America’s borrowing limit before the Treasury runs out of maneuvering room to avoid a potential default on U.S. debt.

Bernanke, speaking at the University of Michigan, said the approaching debt limit is one of the “critical fiscal watersheds” for the government in coming weeks.

President Barack Obama also spoke Monday about the urgency of raising the limit. Obama said he wouldn’t let Login to read more

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