Treasury Secretary Jacob Lew warned Thursday the nation is just seven days from its first default in 224 years, something that will affect the lives of every American and put at risk the paychecks of government workers and the benefits of 3.4 million disabled veterans. No later than Oct. 17, the U.S. will have run out of borrowing power and be unable to pay its bills, Lew told the Senate Finance Committee. While some Republicans have discounted the danger, Lew told the Senate Finance Committee it could have “potentially catastrophic impacts.” “I have a responsibility to be transparent with the American people about these risks,” Lew said. “I think it would be a grave mistake to discount or dismiss them.” “If we have insufficient cash on hand, it would be impossible for the United States of America to meet all of its obligations,” Lew said. Among the risks is that the U.S. ...