U.S. Treasury Secretary Jack Lew is calling on Congress to act quickly to raise the nation’s borrowing limit. A temporary suspension of the debt ceiling expires on Friday after it was passed in October following the government shutdown. Lew warned a delay could cause the United States to default on its obligations by the end of the month.

Treasury Secretary Jack Lew: “Without borrowing authority, at some point very soon, it would not be possible to meet all of the obligations of the federal government. The truth is, the longer we wait, the greater the risks become. Whether it’s the economic recovery, the financial markets or the dependability of Social Security payments and military salaries, these are not things to put at risk.”